Chicago City Wire

Former state university employee Philip Giuffre, who retired in January 2016, saved $9,426 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Giuffre would collect as much as $137,816, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Giuffre received $2,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Giuffre will have already received $12,115 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.