South Central Reporter

Former state university employee Janice Ripperda, who retired in July 2016, saved $70,660 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ripperda would collect as much as $2.56 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Ripperda received $53,854 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ripperda will have already received $109,324 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.