Quantcast

Sangamon Sun

Tuesday, October 8, 2024

Former EMT fire engineer McKendry paid in $152K to pension fund, could collect $4.05M in retirement

Money041

Former EMT fire engineer Kevin McKendry, who retired in November 2018, saved $152,230 toward a pension over 38 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, McKendry would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McKendry received $85,119 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McKendry will have already received $172,792 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS