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McLean County Times

Wednesday, April 24, 2024

Former state school employee Lust paid in $146K to teachers' pension fund, could collect $2.94M in retirement

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Former state school employee Cathy Lust, who retired in May 2017, saved $146,108 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lust would collect as much as $2.94 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Lust received $61,786 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lust will have already received $190,975 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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