Former state university employee Davis paid in $27K to pension fund, could collect $332K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee E'tienne Davis, who retired in January 2018, saved $26,665 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Davis would collect as much as $332,266, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Davis received $6,984 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Davis will have already received $29,220 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City Colleges of Chicago

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