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Retired Illinois couple claims huge lottery prize
Source: Agencies |
April 19, 2012, Thursday
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A retired couple in a southern Illinois town claimed their one-third share of a record US$656 million Mega Millions lottery jackpot yesterday, saying they would invest most of the windfall and possibly buy a new car.
Merle Butler, 65, a former insurance agent, and Patricia Butler, 62, who worked at several companies, retiring nearly five years ago from investment firm Edwards Jones, are the only winners of the March 30 jackpot to publicly identify themselves.
Illinois requires winners' identities to be revealed. The holders of the two other winning tickets, in Kansas and Maryland, chose to remain anonymous.
The one-third of the prize won by the Butlers would amount to US$218.6 million if paid in 26 annual installments. They chose, however, to take a lump sum payment of US$157.9 million, which will be reduced to US$110.5 million after federal and state taxes.
At a news conference in Red Bud, Merle Butler said he usually only plays the lottery when the jackpot hits about US$150 million.
"I was retired but now it looks like I have a new full-time job," said Merle Butler, 65, referring to managing the money. The couple waited three weeks to come forward after the drawing in order to consult financial and legal advisors, he added.
The Butlers plan to make no major changes in their lives and said they would use some of the money to help their children and grandchildren.
Merle Butler, 65, a former insurance agent, and Patricia Butler, 62, who worked at several companies, retiring nearly five years ago from investment firm Edwards Jones, are the only winners of the March 30 jackpot to publicly identify themselves.
Illinois requires winners' identities to be revealed. The holders of the two other winning tickets, in Kansas and Maryland, chose to remain anonymous.
The one-third of the prize won by the Butlers would amount to US$218.6 million if paid in 26 annual installments. They chose, however, to take a lump sum payment of US$157.9 million, which will be reduced to US$110.5 million after federal and state taxes.
At a news conference in Red Bud, Merle Butler said he usually only plays the lottery when the jackpot hits about US$150 million.
"I was retired but now it looks like I have a new full-time job," said Merle Butler, 65, referring to managing the money. The couple waited three weeks to come forward after the drawing in order to consult financial and legal advisors, he added.
The Butlers plan to make no major changes in their lives and said they would use some of the money to help their children and grandchildren.
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