Former state university employee Davies paid in $70K to pension fund, could collect $1.19M in retirement

By Rock Island Today Reports

Feb 1, 2017

Former state university employee Pamela Davies, who retired in January 2017, saved $70,064 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Davies would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Davies received $24,961 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davies will have already received $77,152 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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