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Sangamon Sun

Tuesday, November 26, 2024

Former EMT lieutenant Lewis paid in $176K to pension fund, could collect $4.38M in retirement

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Former EMT lieutenant Edward Lewis, who retired in July 2018, saved $175,946 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, Lewis would collect as much as $4.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lewis received $92,115 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lewis will have already received $186,993 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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