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Carbondale Reporter

Thursday, October 2, 2025

Former state university employee Carr paid in $135K to pension fund, could collect $3.5M in retirement

Money 08

Former state university employee Kay Carr, who retired in June 2017, saved $135,139 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carr would collect as much as $3.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Carr received $73,668 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Carr will have already received $149,546 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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