Chicago City Wire

Former state university employee Ergun Onal, who retired in August 2018, saved $280,187 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Onal would collect as much as $4.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Onal received $95,136 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Onal will have already received $294,056 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.