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Sangamon Sun

Monday, May 12, 2025

Former state university employee Foster paid in $41K to pension fund, could collect $1.84M in retirement

Money041

Former state university employee Larry Foster, who retired in November 2018, saved $41,277 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Foster would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Foster received $38,772 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Foster will have already received $78,707 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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