Chicago City Wire

Chicago City Wire

Friday, November 15, 2019

Former state university employee Coppage paid in $71K to pension fund, could collect $1.65M in retirement


By Local Labs News Service | Jul 1, 2017


Former state university employee Jerome Coppage, who retired in June 2017, saved $71,216 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Coppage would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Coppage received $34,582 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coppage will have already received $106,889 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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