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


By Local Labs News Service | Mar 1, 2019

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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.

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