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Sangamon Sun

Friday, April 19, 2024

Former paramedic Helmold paid in $217K to pension fund, could collect $4.45M in retirement

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Former paramedic Kevin Helmold, who retired in November 2018, saved $216,758 toward a pension over 32 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Helmold would collect as much as $4.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Helmold received $93,557 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Helmold will have already received $289,176 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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