Chicago City Wire

Former state university employee Jeffrey Carns, who retired in December 2018, saved $109,132 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carns would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Carns received $45,336 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carns will have already received $140,129 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.