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Carbondale Reporter

Friday, November 22, 2024

Former state university employee Miller paid in $56K to pension fund, could collect $935K in retirement

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Former state university employee Anne Miller, who retired in March 2016, saved $55,575 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $934,862, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Miller received $19,650 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $60,737 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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