Sangamon Sun

Sangamon Sun

Friday, April 3, 2020

Former EMT fire engineer Reimer paid in $159K to pension fund, could collect $4.05M in retirement


By Local Labs News Service | Dec 1, 2018

Money 08

Former EMT fire engineer Richard Reimer, who retired in November 2018, saved $159,321 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, Reimer would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Reimer received $85,119 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reimer will have already received $172,792 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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