Former state school employee Zimmerman paid in $161K to teachers' pension fund, could collect $3.2M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Mina Zimmerman, who retired in June 2016, saved $161,386 toward a pension over 23 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 $3.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Zimmerman received $67,271 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zimmerman will have already received $207,928 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Forest School District 67

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