Kane County Reporter

Former state university employee Julie Schaid, who retired in May 2016, saved $53,816 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schaid would collect as much as $623,279, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Schaid received $13,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Schaid will have already received $54,806 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.