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Carbondale Reporter

Tuesday, November 5, 2024

Former state university employee Clark paid in $10K to pension fund, could collect $226K in retirement

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Former state university employee Terry Clark, who retired in January 2018, saved $10,162 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $225,598, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Clark received $4,741 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Clark will have already received $14,653 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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