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Sangamon Sun

Tuesday, April 23, 2024

Former EMT lieutenant Healy paid in $199K to pension fund, could collect $4.24M in retirement

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Former EMT lieutenant Thomas Healy, who retired in November 2018, saved $199,282 toward a pension over 28 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Healy would collect as much as $4.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Healy received $89,204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Healy will have already received $275,720 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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