East Central Reporter

Former state university employee Richard Staley, who retired in October 2017, saved $58,705 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Staley would collect as much as $894,653, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Staley received $18,804 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Staley will have already received $78,668 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.