Former state school employee Byers paid in $136K to teachers' pension fund, could collect $3.08M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Luann Byers, who retired in May 2018, saved $136,071 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 $3.08 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Byers received $64,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byers will have already received $199,993 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Byron Community Unit School District 226

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