Former state school employee Milliman paid in $17K to teachers' pension fund, could collect $466K in retirement

By East Central Reporter Reports

Sep 1, 2018

Former state school employee Terry Milliman, who retired in August 2018, saved $17,055 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Milliman would collect as much as $465,955, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Milliman received $9,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Milliman will have already received $19,882 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Jasper County Community Unit School District 1

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