Sangamon Sun

Sangamon Sun

Tuesday, October 15, 2019

Former state school employee Davis paid in $204K to teachers' pension fund, could collect $2.52M in retirement

Schools

By Local Labs News Service | Jul 1, 2016


Former state school employee Kathy Davis, who retired in June 2016, saved $204,310 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Davis would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Davis received $52,942 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Davis will have already received $221,489 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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