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DeKalb Times

Thursday, November 7, 2024

Former state university employee Fouts paid in $123K to pension fund, could collect $2.39M in retirement

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Former state university employee Barbara Fouts, who retired in October 2018, saved $123,269 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fouts would collect as much as $2.39 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Fouts received $50,164 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fouts will have already received $155,052 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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