South Central Reporter

Former state university employee Kathleen Grandt, who retired in June 2018, saved $3,168 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grandt would collect as much as $40,534, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Grandt received $852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Grandt will have already received $3,565 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.