Former state school employee Hoff paid in $31K to teachers' pension fund, could collect $422K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Elaine Hoff, who retired in May 2016, saved $30,589 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hoff would collect as much as $421,721, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Hoff received $8,864 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hoff will have already received $37,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Warren Community Unit School District 205

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