Chicago City Wire

Former state university employee Cynthia Paceley, who retired in January 2016, saved $34,741 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Paceley would collect as much as $771,184, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Paceley received $16,209 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paceley will have already received $50,100 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.