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Sangamon Sun

Monday, November 25, 2024

Former captain Tragos paid in $213K to pension fund, could collect $4.63M in retirement

Money041

Former captain Thomas Tragos, who retired in November 2018, saved $213,152 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, Tragos would collect as much as $4.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Tragos received $97,229 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tragos will have already received $300,525 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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