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Chambana Sun

Monday, November 25, 2024

Former state university employee Miller paid in $2K to pension fund, could collect $192K in retirement

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Former state university employee Barbara Miller, who retired in June 2016, saved $2,417 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $192,200, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Miller received $4,039 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Miller will have already received $4,039 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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