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Sangamon Sun

Monday, November 25, 2024

Former EMT battalion chief Senderak paid in $261K to pension fund, could collect $5.38M in retirement

Money272

Former EMT battalion chief Thomas Senderak, who retired in November 2018, saved $261,194 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, Senderak would collect as much as $5.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Senderak received $112,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Senderak will have already received $349,269 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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