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Peoria Standard

Monday, November 25, 2024

Former state university employee Foster paid in $5K to pension fund, could collect $191K in retirement

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Former state university employee Debra Foster, who retired in December 2017, saved $4,903 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Foster would collect as much as $190,682, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Foster received $4,008 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Foster will have already received $8,136 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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