Chicago City Wire

Former state university employee Jeffery McCaster, who retired in July 2018, saved $47,170 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McCaster would collect as much as $925,060, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes McCaster received $19,444 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCaster will have already received $60,099 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.