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Lake County Gazette

Thursday, April 18, 2024

Former state university employee Morton Miller paid in $96K to pension fund, could collect $1.44M in retirement

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Former state university employee Amy Morton Miller, who retired in June 2018, saved $96,384 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Morton Miller would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Morton Miller received $30,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Morton Miller will have already received $126,983 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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