Sangamon Sun

Sangamon Sun

Sunday, February 23, 2020

Former EMT lieutenant Vanswearingen paid in $204K to pension fund, could collect $4.4M in retirement


By Local Labs News Service | Dec 1, 2018

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Former EMT lieutenant Guy Vanswearingen, who retired in November 2018, saved $203,792 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, Vanswearingen would collect as much as $4.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Vanswearingen received $92,566 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vanswearingen will have already received $286,112 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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