Chicago City Wire

Former state university employee Steven Parker, who retired in January 2016, saved $82,743 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Parker would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Parker received $36,495 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parker will have already received $112,803 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.