Quantcast

Rock Island Today

Wednesday, July 9, 2025

Former state school employee Schumaker paid in $83K to teachers' pension fund, could collect $1.7M in retirement

Shutterstock 443523118

Former state school employee Debra Schumaker, who retired in May 2017, saved $83,154 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schumaker would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Schumaker received $35,637 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schumaker will have already received $110,150 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS