Dupage Policy Journal

Former state university employee Robert Nichols, who retired in September 2018, saved $155,882 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nichols would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Nichols received $46,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nichols will have already received $196,196 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.