Dupage Policy Journal

Former state university employee Barbara Lipe, who retired in April 2017, saved $14,597 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lipe would collect as much as $222,122, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lipe received $4,668 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lipe will have already received $19,529 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.