Quantcast

Metro East Sun

Tuesday, April 23, 2024

Former state university employee Miller paid in $31K to pension fund, could collect $475K in retirement

Shutterstock 369740408

Former state university employee Lynn Miller, who retired in August 2018, saved $30,865 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $474,861, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Miller received $9,981 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Miller will have already received $41,755 in retirement benefits, or more than the sum total of the retiree's contributions to the state 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