Quantcast

Chambana Sun

Saturday, April 20, 2024

Former state school employee Miller paid in $128K to teachers' pension fund, could collect $2.24M in retirement

Money759

Former state school employee Billie Miller, who retired in June 2017, saved $127,650 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Miller received $47,138 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $145,699 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS