Miller, 37, averaged 1.4 points, 1.9 rebounds and 1.1 assists in 20 games last season for the Nuggets. He posted 1.3 points, 1.1 rebounds and 0.9 assists per game in his first season for the team in 2015.
The 17-year NBA veteran has played for seven different NBA franchises, including: The Orlando Magic, Memphis Grizzlies, Minnesota Timberwolves, Washington Wizards, Miami Heat, Cleveland Cavaliers and Nuggets. He won back-to-back championships with the Heat during the 2011 and 2012 seasons. Miller was the No. 5 overall pick in the 2000 NBA Draft out of Florida. The 2000 Rookie of the Year enjoyed his best sesason in 2006, when he averaged 18.5 points, 5.4 rebounds and 4.3 assists per bout for the Grizzlies.
In June, Miller told Hastings and Helmer on Altitude Sports Radio that he hadn't "decided" on when he wanted to retire.
"I said this a lot, I've been fortunate enough to play for a lot great coaches. Some of the best. Including coach Malone there in Denver. I've been able to learn a lot from those guys and if it is a path, I think it [coaching] would be a great start because of what I've been able to learn from all of the coaches I've played for."
Miller was a career 40 percent 3-point shooter. He made more than $93.1 million in salary during his NBA tenure, according to Basketball Reference. Miller was due $3.5 million in 2017, which was unguaranteed until Wednesday. He signed his two-year, $7 million contract with the Nuggets last summer.
"For me, it's just a lot of fun - I enjoy playing," Miller told the Argus Leader last month.
"I always will. My family still enjoys me playing, which is most important. So we're going to keep going as long as we can. Every year is a new challenge and I enjoy those challenges. Until I quit, finding something to replace this will be hard."