Quantcast

Carbondale Reporter

Saturday, November 23, 2024

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.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS