Illinois Valley Times

Former state university employee William Pitsenbarger, who retired in January 2018, saved $34,361 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pitsenbarger would collect as much as $339,985, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Pitsenbarger received $7,146 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Pitsenbarger will have already received $37,937 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.