Chicago City Wire

Former state university employee Meldaree Morgan, who retired in January 2016, saved $63,524 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Morgan would collect as much as $1.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Morgan received $32,379 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Morgan will have already received $65,729 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.