East Central Reporter

Former state university employee William Addison, who retired in August 2018, saved $199,218 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Addison would collect as much as $3.7 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Addison received $77,712 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Addison will have already received $240,199 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.