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Peoria Standard

Tuesday, October 28, 2025

Former state school employee Barra paid in $114K to teachers' pension fund, could collect $2.28M in retirement

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Former state school employee Michael Barra, who retired in May 2017, saved $114,394 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Barra would collect as much as $2.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Barra received $48,013 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barra will have already received $148,403 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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