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

Schools

By Local Labs News Service | Oct 1, 2018

Shutterstock 381111379

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.

Want to get notified whenever we write about City of Chicago Fire Department ?

Sign-up Next time we write about City of Chicago Fire Department, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City of Chicago Fire Department

More News