Chicago City Wire

Former state university employee Michael Maloney, who retired in July 2016, saved $1,157 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Maloney would collect as much as $17,212, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Maloney received $361 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Maloney will have already received $1,510 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.