Chicago City Wire

Former state university employee Susan Shutt, who retired in January 2016, saved $16,875 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shutt would collect as much as $249,919, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Shutt received $5,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Shutt will have already received $21,977 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.