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Sangamon Sun

Monday, November 25, 2024

Former fire engineer Bottger paid in $136K to pension fund, could collect $3.53M in retirement

Money 02

Former fire engineer Theodore Bottger, who retired in February 2016, saved $136,041 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Bottger would collect as much as $3.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bottger received $74,112 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bottger will have already received $150,447 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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