Chicago City Wire

Former state university employee Bruce Henson, who retired in January 2018, saved $20,322 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Henson would collect as much as $434,595, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Henson received $9,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Henson will have already received $28,232 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.