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Sangamon Sun

Monday, November 25, 2024

Former EMT captain Mueller paid in $212K to pension fund, could collect $4.51M in retirement

Money 01

Former EMT captain Frank Mueller, who retired in November 2018, saved $211,769 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, Mueller would collect as much as $4.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mueller received $94,789 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $292,984 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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