Chicago City Wire

Former state university employee Thomas Golemon, who retired in January 2018, saved $365,966 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Golemon would collect as much as $8.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Golemon received $173,007 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Golemon will have already received $534,747 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.