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Sangamon Sun

Monday, November 25, 2024

Former EMT battalion chief Kehoe paid in $190K to pension fund, could collect $5.43M in retirement

Money272

Former EMT battalion chief Patrick Kehoe, who retired in November 2017, saved $190,084 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, Kehoe would collect as much as $5.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kehoe received $114,147 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kehoe will have already received $231,718 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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