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Chambana Sun

Monday, April 28, 2025

Former state university employee Kaufman paid in $87K to pension fund, could collect $1.13M in retirement

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Former state university employee Jeffrey Kaufman, who retired in July 2016, saved $87,332 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kaufman would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kaufman received $23,732 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kaufman will have already received $99,285 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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