Former state school employee Zimmerman paid in $115K to teachers' pension fund, could collect $1.87M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Linda Zimmerman, who retired in June 2018, saved $115,139 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, Zimmerman would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Zimmerman received $39,318 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zimmerman will have already received $121,529 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Urbana School District 116 Board

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