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Kendall County Times

Friday, November 22, 2024

Former state school employee Davis paid in $136K to teachers' pension fund, could collect $2.98M in retirement

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Former state school employee Cheryl Davis, who retired in May 2017, saved $136,357 toward a pension over 28 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 $2.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Davis received $62,561 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davis will have already received $193,370 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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