Dupage Policy Journal

Former state university employee Diane Schmidt, who retired in June 2017, saved $339 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schmidt would collect as much as $20,021, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schmidt received $420 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Schmidt will have already received $420 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.