Former state school employee Lee paid in $84K to teachers' pension fund, could collect $1.13M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Laurie Lee, who retired in July 2016, saved $83,972 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Lee received $23,811 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lee will have already received $99,616 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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