Former state university employee Patricia Griffin, who retired in March 2018, saved $41,784 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.
Over 30 years of retirement, Griffin would collect as much as $776,071, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.
The projection assumes Griffin received $16,312 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Griffin will have already received $50,418 in retirement benefits, or more than the sum total of the retiree’s contributions to the state pension fund.
