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Lake County Gazette

Friday, April 19, 2024

Former state school employee Huebner paid in $50K to teachers' pension fund, could collect $838K in retirement

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Former state school employee Keith Huebner, who retired in June 2017, saved $50,310 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Huebner would collect as much as $837,757, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Huebner received $17,609 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Huebner will have already received $54,427 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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