Chicago City Wire

Former state university employee Wayne Arnold, who retired in July 2018, saved $48,276 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Arnold would collect as much as $896,891, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Arnold received $18,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Arnold will have already received $58,271 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.