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Will County Gazette

Sunday, May 5, 2024

Former state university employee Daniels paid in $117K to pension fund, could collect $4.41M in retirement

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Former state university employee Debra Daniels, who retired in April 2016, saved $117,013 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Daniels would collect as much as $4.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Daniels received $92,792 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Daniels will have already received $188,368 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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