Chicago City Wire

Former state university employee Katherine Parr, who retired in January 2019, saved $41,123 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Parr would collect as much as $685,656, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Parr received $14,412 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parr will have already received $44,545 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.