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Macon Reporter

Friday, November 22, 2024

Former state university employee Carr paid in $47K to pension fund, could collect $866K in retirement

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Former state university employee Lisa Carr, who retired in October 2018, saved $47,031 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carr would collect as much as $866,371, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Carr received $18,210 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carr will have already received $56,285 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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