Former state school employee Luz paid in $19K to teachers' pension fund, could collect $411K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Ety Luz, who retired in May 2018, saved $18,652 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Luz would collect as much as $410,589, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Luz received $8,630 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Luz will have already received $26,675 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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New Trier Township High School District 203 Board

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