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DeKalb Times

Tuesday, April 8, 2025

Former state school employee Beard paid in $174K to teachers' pension fund, could collect $3.83M in retirement

Money 04

Former state school employee Carolyn Beard, who retired in June 2018, saved $173,983 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Beard would collect as much as $3.83 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Beard received $80,509 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beard will have already received $248,845 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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