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Sangamon Sun

Sunday, November 24, 2024

Former state university employee Kararo paid in $39K to pension fund, could collect $565K in retirement

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Former state university employee Rosemarie Kararo, who retired in February 2018, saved $38,814 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kararo would collect as much as $564,625, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kararo received $11,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kararo will have already received $49,652 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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