Former state school employee Kruse paid in $182K to teachers' pension fund, could collect $2.97M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Norma Kruse, who retired in June 2017, saved $181,601 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kruse would collect as much as $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kruse received $62,344 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kruse will have already received $192,698 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Special Education District Of Lake County

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