Sangamon Sun

Sangamon Sun

Sunday, February 23, 2020

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

Schools

By Local Labs News Service | Dec 1, 2018

Shutterstock 385535740

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.

Want to get notified whenever we write about City of Chicago Fire Department ?

Sign-up Next time we write about City of Chicago Fire Department, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City of Chicago Fire Department

More News