Chicago City Wire

Former state university employee Howard Wolfman, who retired in June 2018, saved $30,874 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wolfman would collect as much as $694,814, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wolfman received $14,604 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wolfman will have already received $45,139 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.