Chicago City Wire

Former state university employee Olof Westerstahl, who retired in September 2016, saved $65,323 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Westerstahl would collect as much as $784,143, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Westerstahl received $16,482 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Westerstahl will have already received $68,953 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.