Chicago City Wire

Former state university employee Sherry London, who retired in November 2018, saved $14,909 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, London would collect as much as $405,342, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes London received $8,520 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, London will have already received $17,296 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.