Former state university employee Daily paid in $77K to pension fund, could collect $1.44M in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Connie Daily, who retired in January 2018, saved $76,699 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Daily would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Daily received $30,220 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Daily will have already received $93,408 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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