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Chicago City Wire

Saturday, June 7, 2025

Former state university employee Koffman paid in $131K to pension fund, could collect $3.11M in retirement

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Former state university employee Elaine Koffman, who retired in June 2017, saved $131,261 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koffman would collect as much as $3.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Koffman received $65,435 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Koffman will have already received $132,833 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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