Chicago City Wire

Former state university employee Deborah Cavanaugh Grant, who retired in January 2016, saved $111,963 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cavanaugh Grant would collect as much as $2.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cavanaugh Grant received $42,191 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cavanaugh Grant will have already received $130,409 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.