Quantcast

Sangamon Sun

Sunday, November 24, 2024

Former EMT captain Eiland paid in $210K to pension fund, could collect $4.86M in retirement

Money 01

Former EMT captain Robert Eiland, who retired in November 2017, saved $209,775 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, Eiland would collect as much as $4.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Eiland received $102,062 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eiland will have already received $315,464 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS