Former state university employee Carruthers paid in $188K to pension fund, could collect $5.09M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Cathy Carruthers, who retired in January 2016, saved $188,028 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carruthers would collect as much as $5.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Carruthers received $106,920 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Carruthers will have already received $217,048 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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