Chicago City Wire

Former state university employee Fred Williams, who retired in May 2016, saved $41,849 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $581,649, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williams received $12,225 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Williams will have already received $51,146 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.