Chicago City Wire

Former state university employee Carol Foley, who retired in January 2019, saved $33,164 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Foley would collect as much as $470,425, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Foley received $9,888 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Foley will have already received $41,370 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.