Former state university employee Foster paid in $40K to pension fund, could collect $788K in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee Linda Foster, who retired in January 2016, saved $40,223 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Foster would collect as much as $787,843, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Foster received $16,559 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Foster will have already received $51,183 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Eastern Illinois University

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