Chicago City Wire

Former state university employee Sucheta Connolly, who retired in March 2018, saved $341,776 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Connolly would collect as much as $4.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Connolly received $103,905 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Connolly will have already received $434,700 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.