Chicago City Wire

Former state university employee Teodoro Montes, who retired in January 2018, saved $22,339 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Montes would collect as much as $349,450, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Montes received $7,345 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Montes will have already received $22,702 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.