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East Central Reporter

Saturday, November 23, 2024

Former state university employee Miller paid in $101K to pension fund, could collect $2.21M in retirement

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Former state university employee Betsy Miller, who retired in October 2017, saved $100,783 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 $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Miller received $46,376 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $143,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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