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North Cook News

Sunday, June 1, 2025

Former state school employee Beck paid in $158K to teachers' pension fund, could collect $3.26M in retirement

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Former state school employee Gene Beck, who retired in June 2018, saved $157,949 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, Beck would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Beck received $68,520 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beck will have already received $211,789 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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