Dupage Policy Journal

Former state university employee Raymond Waterman, who retired in February 2017, saved $16,952 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Waterman would collect as much as $327,191, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Waterman received $6,877 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Waterman will have already received $21,255 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.