Quantcast

Sangamon Sun

Monday, November 25, 2024

Former lieutenant Williams paid in $187K to pension fund, could collect $4.16M in retirement

Shutterstock 249974521

Former lieutenant Bobby Williams, who retired in November 2018, saved $186,641 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, Williams would collect as much as $4.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Williams received $87,434 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williams will have already received $270,250 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