McLean County Times

Former state university employee Stanley Kaeb, who retired in June 2018, saved $33,118 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kaeb would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Kaeb received $41,947 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Kaeb will have already received $41,947 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.