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Dupage Policy Journal

Thursday, April 10, 2025

Former state school employee Davey paid in $201K to teachers' pension fund, could collect $4.09M in retirement

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Former state school employee Penelope Davey, who retired in June 2018, saved $201,208 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Davey would collect as much as $4.09 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Davey received $85,945 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davey will have already received $265,647 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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