Former state school employee Shirk paid in $2K to teachers' pension fund, could collect $52K in retirement

By Rock Island Today Reports

Jan 1, 2017

Former state school employee Jerry Shirk, who retired in December 2016, saved $1,985 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shirk would collect as much as $51,752, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Shirk received $1,087 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Shirk will have already received $2,207 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Island-Milan School District 41 Board

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