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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Carobine paid in $16K to pension fund, could collect $253K in retirement

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Former state university employee John Carobine, who retired in July 2016, saved $15,955 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carobine would collect as much as $253,116, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Carobine received $5,320 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carobine will have already received $16,444 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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