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

By Local Labs News Service

Jul 1, 2018

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 McLean County Times.

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.

ORGANIZATIONS IN THIS STORY

Prairie Central Community Unit School District 8

!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