Chicago City Wire

Former state university employee William Franek, who retired in January 2018, saved $319 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Franek would collect as much as $118,388, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Franek received $2,488 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Franek will have already received $2,488 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.