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Sangamon Sun

Thursday, April 25, 2024

Former captain Greene paid in $228K to pension fund, could collect $4.65M in retirement

Money759

Former captain Brian Greene, who retired in October 2018, saved $228,415 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, Greene would collect as much as $4.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Greene received $97,762 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Greene will have already received $302,173 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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