Quantcast

Sangamon Sun

Sunday, December 22, 2024

Former state school employee Beyers paid in $148K to teachers' pension fund, could collect $3.4M in retirement

Shutterstock 450769633

Former state school employee Brad Beyers, who retired in June 2018, saved $148,432 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, Beyers would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Beyers received $71,503 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beyers will have already received $221,008 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS