Former state university employee Friedman paid in $21K to pension fund, could collect $933K in retirement

Former state university employee Susan Friedman, who retired in March 2017, saved $21,381 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Friedman would collect as much as $932,995, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Friedman received $19,610 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Friedman will have already received $39,808 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.