Quantcast

Sangamon Sun

Friday, November 8, 2024

Former state university employee Miller paid in $23K to pension fund, could collect $691K in retirement

Shutterstock 262120544

Former state university employee Stacey Miller, who retired in March 2019, saved $22,963 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $691,365, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Miller received $14,532 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Miller will have already received $29,500 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS