Former state school employee Luxton paid in $91K to teachers' pension fund, could collect $1.84M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Belinda Luxton, who retired in May 2018, saved $91,223 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Luxton would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Luxton received $38,656 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Luxton will have already received $119,482 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kings Consolidated School District 144

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