Kane County Reporter

Kane County Reporter

Wednesday, December 11, 2019

Former state school employee Lue paid in $139K to teachers' pension fund, could collect $1.87M in retirement

Schools

By Local Labs News Service | Jan 1, 2019

Money272

Former state school employee Maureen Lue, who retired in December 2018, saved $138,575 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lue would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Lue received $39,216 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lue will have already received $164,064 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46 (merged)

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