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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Hoch paid in $117K to pension fund, could collect $4.54M in retirement

Money 01

Former state university employee Charles Hoch, who retired in June 2017, saved $116,970 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hoch would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hoch received $95,518 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hoch will have already received $193,902 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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