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Lake County Gazette

Thursday, June 19, 2025

Former state school employee Lucke paid in $271K to teachers' pension fund, could collect $5.86M in retirement

Money 02

Former state school employee Kerry Lucke, who retired in June 2018, saved $271,246 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lucke would collect as much as $5.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Lucke received $123,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lucke will have already received $380,651 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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