West Central Reporter

West Central Reporter

Monday, November 18, 2019

Former state university employee Coplan paid in $88K to pension fund, could collect $1.32M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money759

Former state university employee Teresa Coplan, who retired in January 2016, saved $87,860 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Coplan would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Coplan received $27,702 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Coplan will have already received $115,895 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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