Chicago City Wire

Former state university employee Michael Staver, who retired in January 2017, saved $37,009 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Staver would collect as much as $717,176, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Staver received $15,074 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Staver will have already received $46,592 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.