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Sangamon Sun

Thursday, November 7, 2024

Former EMT captain Sperindeo paid in $237K to pension fund, could collect $4.47M in retirement

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Former EMT captain Pat Sperindeo, who retired in May 2018, saved $236,565 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, Sperindeo would collect as much as $4.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sperindeo received $93,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sperindeo will have already received $290,371 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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