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Chambana Sun

Saturday, August 2, 2025

Former state university employee Hoffman paid in $57K to pension fund, could collect $1.37M in retirement

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Former state university employee Frank Hoffman, who retired in July 2018, saved $56,792 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hoffman would collect as much as $1.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Hoffman received $28,785 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hoffman will have already received $58,434 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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