Dupage Policy Journal

Former state university employee Michael Squillace, who retired in July 2017, saved $17,947 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Squillace would collect as much as $300,296, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Squillace received $6,312 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Squillace will have already received $19,509 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.