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Lake County Gazette

Saturday, June 7, 2025

Former state school employee Hopman paid in $70K to teachers' pension fund, could collect $1.71M in retirement

Money759

Former state school employee Elizabeth Hopman, who retired in June 2017, saved $69,722 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hopman would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hopman received $35,958 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hopman will have already received $72,995 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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