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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Mileur paid in $58K to pension fund, could collect $1.27M in retirement

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Former state university employee Mary Mileur, who retired in October 2016, saved $58,375 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mileur would collect as much as $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Mileur received $26,598 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mileur will have already received $82,212 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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