Quantcast

Sangamon Sun

Friday, April 26, 2024

Former paramedic Wirtz paid in $209K to pension fund, could collect $4.92M in retirement

Shutterstock 443523118

Former paramedic Terrence Wirtz, who retired in November 2016, saved $209,275 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, Wirtz would collect as much as $4.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wirtz received $103,508 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wirtz will have already received $210,121 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