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East Central Reporter

Monday, May 20, 2024

Former state school employee Miller paid in $25K to teachers' pension fund, could collect $289K in retirement

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Former state school employee Maria Miller, who retired in May 2016, saved $24,911 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $289,300, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Miller received $6,080 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Miller will have already received $25,436 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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