Sangamon Sun

Sangamon Sun

Monday, February 24, 2020

Former EMT fire engineer Walsh paid in $155K to pension fund, could collect $4.04M in retirement


By Local Labs News Service | Oct 1, 2018

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Former EMT fire engineer James Walsh, who retired in September 2018, saved $155,378 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, Walsh would collect as much as $4.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Walsh received $84,911 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Walsh will have already received $172,369 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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