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West Cook News

Saturday, November 23, 2024

Former state school employee La Rue paid in $14K to teachers' pension fund, could collect $356K in retirement

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Former state school employee Lawrence La Rue, who retired in February 2017, saved $14,161 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, La Rue would collect as much as $355,862, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes La Rue received $7,479 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, La Rue will have already received $15,182 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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