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North Cook News

Friday, June 6, 2025

Former state school employee Beyer paid in $50K to teachers' pension fund, could collect $776K in retirement

Money 08

Former state school employee Gerald Beyer, who retired in June 2017, saved $50,423 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Beyer would collect as much as $775,825, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Beyer received $16,307 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Beyer will have already received $68,222 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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