Quantcast

Sangamon Sun

Monday, November 25, 2024

Former firefighter Anderson paid in $143K to pension fund, could collect $3.5M in retirement

Shutterstock 369740408

Former firefighter Roy Anderson, who retired in November 2017, saved $142,801 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, Anderson would collect as much as $3.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Anderson received $73,599 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Anderson will have already received $149,406 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