Dupage Policy Journal

Former state university employee Richard Sanborn, who retired in January 2019, saved $38,866 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sanborn would collect as much as $501,825, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sanborn received $10,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sanborn will have already received $44,128 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.