Chicago City Wire

Former state university employee Margaret Beckmann, who retired in March 2019, saved $51,341 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beckmann would collect as much as $856,357, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Beckmann received $18,000 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beckmann will have already received $55,636 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.