Former state university employee Zimmick paid in $195K to pension fund, could collect $4.34M in retirement

Former state university employee Luann Zimmick, who retired in June 2017, saved $194,928 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zimmick would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Zimmick received $91,226 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zimmick will have already received $281,971 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.