Former state school employee Miller paid in $87K to teachers' pension fund, could collect $1.45M in retirement

By Rock Island Today Reports

May 1, 2018

Former state school employee George Miller, who retired in April 2018, saved $86,592 toward a pension over 24 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 $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Miller received $30,486 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $94,230 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline-Coal Valley School District 40

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