Former state school employee Shipman paid in $192K to teachers' pension fund, could collect $3.45M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Judith Shipman, who retired in May 2016, saved $192,138 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, Shipman would collect as much as $3.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Shipman received $72,537 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shipman will have already received $224,204 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline Coal Valley Community Unit School District 40

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