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DeKalb Times

Sunday, July 20, 2025

Former state school employee Cowley paid in $216K to teachers' pension fund, could collect $4.28M in retirement

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Former state school employee Duane Cowley, who retired in June 2017, saved $215,757 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cowley would collect as much as $4.28 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Cowley received $89,974 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cowley will have already received $278,100 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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