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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Corry paid in $27K to pension fund, could collect $294K in retirement

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Former state university employee Mary Corry, who retired in February 2017, saved $26,974 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Corry would collect as much as $293,787, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Corry received $6,175 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Corry will have already received $32,784 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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