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Chicago City Wire

Friday, April 19, 2024

Former state university employee Carrington paid in $23K to pension fund, could collect $219K in retirement

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Former state university employee Earlma Carrington, who retired in July 2017, saved $22,515 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carrington would collect as much as $219,358, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Carrington received $4,610 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Carrington will have already received $24,473 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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