Quantcast

Sangamon Sun

Friday, April 19, 2024

Former firefighter Maynor paid in $179K to pension fund, could collect $3.57M in retirement

Money 04

Former firefighter Adam Maynor, who retired in November 2017, saved $178,967 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, Maynor would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Maynor received $75,072 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Maynor will have already received $232,040 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