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West Cook News

Saturday, May 24, 2025

Former state university employee Hopkins paid in $67K to pension fund, could collect $1.32M in retirement

Money 01

Former state university employee Margaret Hopkins, who retired in February 2018, saved $67,161 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hopkins would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Hopkins received $27,791 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hopkins will have already received $85,900 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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