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Chambana Sun

Monday, April 28, 2025

Former state university employee Carpenter paid in $81K to pension fund, could collect $1.29M in retirement

Money272

Former state university employee Beth Carpenter, who retired in June 2016, saved $80,961 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carpenter would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Carpenter received $27,062 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carpenter will have already received $83,646 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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