Chicago City Wire

Former state university employee William Hutt, who retired in September 2018, saved $11,673 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hutt would collect as much as $117,669, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hutt received $2,473 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Hutt will have already received $13,128 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.