Carbondale Reporter

Carbondale Reporter

Sunday, February 23, 2020

Former state university employee Carpenter paid in $13K to pension fund, could collect $521K in retirement


By Local Labs News Service | May 23, 2019

Money 06

Former state university employee Tina Carpenter, who retired in April 2019, saved $12,727 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carpenter would collect as much as $521,236, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Carpenter received $10,956 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Carpenter will have already received $22,241 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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