South Central Reporter

Former state university employee Richard Rittenhouse, who retired in January 2016, saved $111,852 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rittenhouse would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Rittenhouse received $57,045 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rittenhouse will have already received $115,801 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.