Former state school employee Byar paid in $236K to teachers' pension fund, could collect $5.08M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Eric Byar, who retired in May 2018, saved $235,985 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, Byar would collect as much as $5.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Byar received $106,751 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byar will have already received $329,958 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lincoln Way Community High School District 210

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