Sangamon Sun

Sangamon Sun

Sunday, February 23, 2020

Former ambulance commander Perez paid in $223K to pension fund, could collect $4.66M in retirement

Schools

By Local Labs News Service | Dec 1, 2018

Money 07

Former ambulance commander Lori Perez, who retired in November 2018, saved $222,589 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, Perez would collect as much as $4.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Perez received $97,863 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Perez will have already received $302,485 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