Chicago City Wire

Former state university employee Frederick Thulin, who retired in June 2018, saved $240,685 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thulin would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thulin received $53,188 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Thulin will have already received $282,386 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.