Former state school employee Davis paid in $11K to teachers' pension fund, could collect $395K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Melvin Davis, who retired in May 2016, saved $11,110 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Davis would collect as much as $394,803, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Davis received $8,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Davis will have already received $16,845 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hinsdale Township High School District 86

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