Quantcast

Sangamon Sun

Monday, November 25, 2024

Former paramedic Tyler paid in $183K to pension fund, could collect $4.79M in retirement

Money 07

Former paramedic Donna Tyler, who retired in November 2017, saved $183,149 toward a pension over 31 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Tyler would collect as much as $4.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Tyler received $100,614 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tyler will have already received $204,246 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS