Chicago City Wire

Former state university employee Joel Shinault, who retired in September 2018, saved $45,920 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shinault would collect as much as $675,380, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Shinault received $14,196 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Shinault will have already received $59,392 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.