Jon Farney

State Farm has told its 19,000 agents it is changing its compensation and benefits contract for them. The Bloomington-based company is also cutting benefits for retired agents.

Jon Farney, an Illinois State University alum, took over as State Farm president from Michael Tipsword at the start of the year. He’s been with State Farm since 1993.

State Farm posted a smaller yet healthy profit in 2019 despite higher losses and some customers paying reduced premiums, the company announced…