Former state school employee Davis paid in $195K to teachers' pension fund, could collect $3.9M in retirement

Former state school employee Timothy Davis, who retired in June 2017, saved $194,673 toward a pension over 26 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 $3.9 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Davis received $82,038 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davis will have already received $253,571 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.