Quantcast

Lake County Gazette

Tuesday, November 26, 2024

Former state school employee Krueger paid in $18K to teachers' pension fund, could collect $741K in retirement

Shutterstock 443523118

Former state school employee Debbie Krueger, who retired in February 2017, saved $18,407 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Krueger would collect as much as $741,314, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Krueger received $15,581 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Krueger will have already received $31,629 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS