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South Cook News

Wednesday, April 2, 2025

Former state school employee Foster paid in $150K to teachers' pension fund, could collect $2.95M in retirement

Money759

Former state school employee Nancy Foster, who retired in June 2016, saved $150,304 toward a pension over 30 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 $2.95 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Foster received $61,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Foster will have already received $191,462 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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