Quantcast

Rockford Sun

Wednesday, December 25, 2024

Former state school employee Byers paid in $170K to teachers' pension fund, could collect $3.77M in retirement

Shutterstock 385535740

Former state school employee Diane Byers, who retired in May 2017, saved $169,717 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Byers would collect as much as $3.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Byers received $79,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byers will have already received $244,961 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