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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Hoover paid in $59K to pension fund, could collect $982K in retirement

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Former state university employee Christopher Hoover, who retired in February 2017, saved $58,924 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hoover would collect as much as $981,905, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Hoover received $20,638 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hoover will have already received $63,790 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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