Former state school employee Davis paid in $207K to teachers' pension fund, could collect $4.62M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Amy Davis, who retired in June 2017, saved $206,532 toward a pension over 35 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 $4.62 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Davis received $97,023 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davis will have already received $299,889 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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