Quantcast

Sangamon Sun

Tuesday, October 8, 2024

Former EMT lieutenant Stack paid in $158K to pension fund, could collect $4.39M in retirement

Shutterstock 121161052

Former EMT lieutenant Steven Stack, who retired in November 2018, saved $158,019 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, Stack would collect as much as $4.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stack received $92,375 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Stack will have already received $187,521 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