Former state school employee Foster paid in $11K to teachers' pension fund, could collect $147K in retirement

By Local Labs News Service

Mar 1, 2018

Former state school employee Jeffery Foster, who retired in February 2018, saved $11,375 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Foster would collect as much as $146,511, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Foster received $3,079 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Foster will have already received $12,880 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Public School District 86

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