Former state school employee Byars paid in $223K to teachers' pension fund, could collect $5.09M in retirement

By Local Labs News Service

Nov 1, 2017

Former state school employee Kimberly Byars, who retired in October 2017, saved $222,992 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, Byars would collect as much as $5.09 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Byars received $106,993 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byars will have already received $330,705 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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