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Carbondale Reporter

Monday, December 23, 2024

Former state university employee Koonce Evans paid in $51K to pension fund, could collect $913K in retirement

Money 03

Former state university employee Josephine Koonce Evans, who retired in June 2016, saved $51,365 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koonce Evans would collect as much as $913,253, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Koonce Evans received $19,195 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koonce Evans will have already received $59,330 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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