Chicago City Wire

Former state university employee Mark Holterman, who retired in January 2018, saved $341,366 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Holterman would collect as much as $6.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Holterman received $126,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holterman will have already received $391,197 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.