East Central Reporter

Former state university employee Katherine Rice, who retired in August 2016, saved $38,152 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rice would collect as much as $733,732, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Rice received $15,422 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rice will have already received $47,669 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.