West Central Reporter

Former state university employee Richard Chamberlain, who retired in May 2016, saved $161,835 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chamberlain would collect as much as $2.83 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Chamberlain received $59,530 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chamberlain will have already received $184,001 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.