Dupage Policy Journal

Dupage Policy Journal

Wednesday, December 11, 2019

Former state university employee Miragliotta paid in $215K to pension fund, could collect $4.13M in retirement

Schools

By Local Labs News Service | Mar 1, 2019

Shutterstock 225154648

Former state university employee Joseph Miragliotta, who retired in February 2019, saved $215,241 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Miragliotta would collect as much as $4.13 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Miragliotta received $86,832 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miragliotta will have already received $268,389 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about College of Dupage ?

Sign-up Next time we write about College of Dupage, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

College of Dupage

More News