Former state school employee Hoffman paid in $128K to teachers' pension fund, could collect $2.42M in retirement

Former state school employee Laurie Hoffman, who retired in June 2017, saved $128,389 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hoffman would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hoffman received $50,865 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hoffman will have already received $157,219 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.