Chicago City Wire

Chicago City Wire

Sunday, October 20, 2019

Former state university employee Miller paid in $3K to pension fund, could collect $137K in retirement

Schools

By Local Labs News Service | May 22, 2019


Former state university employee Anita Miller, who retired in April 2019, saved $3,034 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $137,017, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Miller received $2,880 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Miller will have already received $5,846 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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