Chicago City Wire

Former state university employee Margaret Krause, who retired in December 2018, saved $47,119 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Krause would collect as much as $847,793, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Krause received $17,820 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krause will have already received $55,081 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.