Chicago City Wire

Former state university employee Susan Ciaccio, who retired in May 2018, saved $17,308 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ciaccio would collect as much as $266,829, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ciaccio received $5,608 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ciaccio will have already received $17,333 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.