Former state school employee Luensmann paid in $9K to teachers' pension fund, could collect $532K in retirement

By Local Labs News Service

Jan 1, 2018

Former state school employee William Luensmann, who retired in December 2017, saved $9,260 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Luensmann would collect as much as $531,689, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Luensmann received $11,175 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Luensmann will have already received $11,175 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Dubuque Community Unit School District 119

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