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Carbondale Reporter

Tuesday, November 5, 2024

Former state university employee Perkins paid in $62K to pension fund, could collect $956K in retirement

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Former state university employee Joellen Perkins, who retired in January 2018, saved $61,724 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Perkins would collect as much as $956,145, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Perkins received $20,097 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Perkins will have already received $62,118 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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