Chicago City Wire

Former state university employee Marcela Raffaelli, who retired in January 2019, saved $108,904 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Raffaelli would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Raffaelli received $27,792 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Raffaelli will have already received $116,273 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.