Chicago City Wire

Former state university employee John Hand, who retired in February 2018, saved $78,620 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hand would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hand received $25,150 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hand will have already received $105,219 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.