Chicago City Wire

Former state university employee Jack Croffoot, who retired in January 2016, saved $87,492 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Croffoot would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Croffoot received $25,286 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Croffoot will have already received $105,788 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.