Former state university employee Lloyd paid in $134K to pension fund, could collect $2.34M in retirement

Former state university employee Daniel Lloyd, who retired in July 2016, saved $134,227 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lloyd would collect as much as $2.34 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lloyd received $49,187 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lloyd will have already received $152,033 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.