Former state university employee Taylor paid in $57K to pension fund, could collect $1.36M in retirement

Former state university employee Donald Taylor, who retired in March 2017, saved $57,238 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Taylor received $28,521 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Taylor will have already received $57,898 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.