Former state university employee Harris paid in $118K to pension fund, could collect $3.15M in retirement

By Rock Island Today Reports

Aug 1, 2018

Former state university employee David Harris, who retired in July 2018, saved $118,041 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harris would collect as much as $3.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Harris received $66,207 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harris will have already received $134,400 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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