Chicago City Wire

Former state university employee Patricia Jacobs, who retired in July 2016, saved $93,993 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jacobs would collect as much as $3.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jacobs received $77,121 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jacobs will have already received $156,556 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.