Chicago City Wire

Chicago City Wire

Thursday, November 21, 2019

Former state university employee Miller paid in $79K to pension fund, could collect $1.77M in retirement


By Local Labs News Service | Feb 1, 2017

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Former state university employee Sherry Miller, who retired in January 2017, saved $78,952 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $1.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Miller received $37,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $114,910 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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