Quantcast

Lake County Gazette

Thursday, July 10, 2025

Former state school employee Zimmerman paid in $165K to teachers' pension fund, could collect $4.9M in retirement

Money836

Former state school employee Larry Zimmerman, who retired in July 2017, saved $164,816 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, Zimmerman would collect as much as $4.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Zimmerman received $103,013 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Zimmerman will have already received $209,116 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS