Chicago City Wire

Former state university employee Michael Ruiz, who retired in January 2016, saved $162,223 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ruiz would collect as much as $4.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruiz received $89,398 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ruiz will have already received $181,478 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.