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Sangamon Sun

Monday, November 25, 2024

Former EMT captain Hooper paid in $209K to pension fund, could collect $4.68M in retirement

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Former EMT captain Lee Hooper, who retired in November 2017, saved $209,392 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, Hooper would collect as much as $4.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hooper received $98,415 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hooper will have already received $304,190 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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