Former state school employee Davis paid in $154K to teachers' pension fund, could collect $3.16M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Nancy Davis, who retired in June 2018, saved $153,914 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 $3.16 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Davis received $66,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Davis will have already received $205,260 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hoover-Schrum Memorial School District 157

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