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Sangamon Sun

Sunday, November 24, 2024

Former firefighter Christian El paid in $104K to pension fund, could collect $3.51M in retirement

Money 04

Former firefighter Chris Christian El, who retired in February 2018, saved $104,172 toward a pension over 37 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Christian El would collect as much as $3.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Christian El received $73,857 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Christian El will have already received $149,930 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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