South Central Reporter

Former state university employee Randal Cole, who retired in January 2016, saved $48,420 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cole would collect as much as $896,075, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Cole received $18,834 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cole will have already received $58,214 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.