Former state university employee Davis paid in $18K to pension fund, could collect $276K in retirement

Former state university employee Denise Davis, who retired in June 2016, saved $17,759 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Davis would collect as much as $276,226, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Davis received $5,806 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davis will have already received $17,945 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.