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Sangamon Sun

Monday, November 25, 2024

Former EMT captain Manchester paid in $201K to pension fund, could collect $4.8M in retirement

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Former EMT captain John Manchester, who retired in July 2017, saved $201,075 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, Manchester would collect as much as $4.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Manchester received $100,961 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Manchester will have already received $204,951 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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