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Sangamon Sun

Sunday, November 24, 2024

Former paramedic Levison paid in $276K to pension fund, could collect $4.98M in retirement

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Former paramedic Marc Levison, who retired in July 2017, saved $276,019 toward a pension over 36 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Levison would collect as much as $4.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Levison received $104,757 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Levison will have already received $323,794 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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