Former state school employee Whipple paid in $160K to teachers' pension fund, could collect $3.62M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Trina Whipple, who retired in July 2016, saved $159,870 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Whipple would collect as much as $3.62 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Whipple received $76,091 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Whipple will have already received $235,190 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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