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East Central Reporter

Saturday, April 20, 2024

Former state university employee Miller paid in $61K to pension fund, could collect $1.27M in retirement

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Former state university employee Tammy Miller, who retired in March 2017, saved $60,632 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 $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Miller received $26,780 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $82,773 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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