East Central Reporter

Former state university employee Michael Kasdorf, who retired in August 2016, saved $63,994 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kasdorf would collect as much as $670,824, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Kasdorf received $14,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Kasdorf will have already received $74,860 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.