Former state university employee Davies paid in $6K to pension fund, could collect $117K in retirement

Former state university employee Lauren Davies, who retired in January 2018, saved $6,009 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Davies would collect as much as $117,035, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Davies received $2,460 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davies will have already received $7,604 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.