Former state school employee Luckett paid in $51K to teachers' pension fund, could collect $759K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Flossie Luckett, who retired in June 2016, saved $50,810 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Luckett would collect as much as $758,515, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Luckett received $15,943 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Luckett will have already received $66,699 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Calumet Public School District 132 Board

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