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Chicago City Wire

Tuesday, September 16, 2025

Former state university employee Carroll paid in $108K to pension fund, could collect $1.86M in retirement

Money 03

Former state university employee Sandra Carroll, who retired in December 2016, saved $107,702 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carroll would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Carroll received $39,009 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carroll will have already received $120,572 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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