Quantcast

Sangamon Sun

Monday, November 25, 2024

Former firefighter and paramedic Kovats paid in $200K to pension fund, could collect $4.03M in retirement

Money 02

Former firefighter and paramedic William Kovats, who retired in November 2017, saved $199,754 toward a pension over 30 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Kovats would collect as much as $4.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kovats received $84,661 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kovats will have already received $261,679 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS