Chicago City Wire

Chicago City Wire

Friday, November 22, 2019

Former state university employee Ennis paid in $70K to pension fund, could collect $1.51M in retirement


By Local Labs News Service | Aug 1, 2018

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Former state university employee Danny Ennis, who retired in July 2018, saved $69,988 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ennis would collect as much as $1.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ennis received $31,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ennis will have already received $97,796 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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