Chicago City Wire

Former state university employee Michael Moody, who retired in April 2017, saved $37,709 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moody would collect as much as $742,359, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Moody received $15,603 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moody will have already received $48,227 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.