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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Camarato paid in $734 to pension fund, could collect $120K in retirement

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Former state university employee Pamela Camarato, who retired in June 2017, saved $734 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Camarato would collect as much as $119,844, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Camarato received $2,519 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Camarato will have already received $2,519 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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