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Kankakee Times

Wednesday, November 27, 2024

Former state school employee Zirkle paid in $131K to teachers' pension fund, could collect $2.5M in retirement

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Former state school employee Kimmy Zirkle, who retired in May 2017, saved $131,082 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zirkle would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Zirkle received $52,577 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zirkle will have already received $162,510 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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