Former state school employee Sheppard paid in $95K to teachers' pension fund, could collect $1.93M in retirement

By Local Labs News Service

Oct 1, 2017

Former state school employee Jeri Sheppard, who retired in September 2017, saved $94,640 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sheppard would collect as much as $1.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sheppard received $40,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sheppard will have already received $125,302 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Special Education District Of Lake County

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