Former state university employee Dover paid in $161K to pension fund, could collect $3.47M in retirement

Former state university employee Ruth Dover, who retired in June 2018, saved $161,133 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dover would collect as much as $3.47 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Dover received $72,973 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dover will have already received $225,552 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.