Sangamon Sun

Sangamon Sun

Friday, April 3, 2020

Former paramedic Harding paid in $287K to pension fund, could collect $5.16M in retirement

Schools

By Local Labs News Service | Dec 1, 2018

Money 06

Former paramedic John Harding, who retired in November 2018, saved $286,620 toward a pension over 39 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Harding would collect as much as $5.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Harding received $108,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harding will have already received $335,137 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