Former state school employee Zimmerman paid in $37K to teachers' pension fund, could collect $687K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Deborah Zimmerman, who retired in May 2016, saved $36,869 toward a pension over 13 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 $687,306, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Zimmerman received $14,446 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zimmerman will have already received $44,650 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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St. Charles Community Unit School District 303

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