Former state university employee Riley paid in $30K to pension fund, could collect $641K in retirement

Former state university employee Kathleen Riley, who retired in April 2017, saved $29,818 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Riley would collect as much as $640,538, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Riley received $13,463 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Riley will have already received $41,613 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.