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Chicago City Wire

Friday, April 19, 2024

Former state university employee Miner paid in $141K to pension fund, could collect $3.37M in retirement

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Former state university employee James Miner, who retired in June 2018, saved $140,702 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miner would collect as much as $3.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Miner received $70,812 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Miner will have already received $143,748 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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