Quantcast

DeKalb Times

Sunday, November 17, 2024

Former state university employee Foster paid in $336 to pension fund, could collect $182K in retirement

Money041

Former state university employee Janet Foster, who retired in June 2018, saved $336 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Foster would collect as much as $181,530, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Foster received $3,815 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Foster will have already received $3,815 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS