East Central Reporter

Former state university employee Michael Eagan, who retired in May 2016, saved $64,666 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eagan would collect as much as $1.39 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Eagan received $29,304 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eagan will have already received $90,575 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.