Chicago City Wire

Former state university employee Melinda Kolaz, who retired in January 2019, saved $34,049 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kolaz would collect as much as $368,233, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kolaz received $7,740 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Kolaz will have already received $41,091 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.