Quantcast

Macon Reporter

Thursday, April 25, 2024

Former state university employee Coon paid in $31K to pension fund, could collect $540K in retirement

Money 04

Former state university employee Stuart Coon, who retired in June 2018, saved $30,687 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Coon would collect as much as $539,790, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Coon received $11,346 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coon will have already received $35,069 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS