Chicago City Wire

Former state university employee Frances Belmonte Mann, who retired in January 2016, saved $28,443 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Belmonte Mann would collect as much as $429,668, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Belmonte Mann received $9,031 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Belmonte Mann will have already received $37,782 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.