Quantcast

Sangamon Sun

Monday, May 20, 2024

Former firefighter Mecher paid in $174K to pension fund, could collect $3.42M in retirement

Shutterstock 469426916

Former firefighter Evan Mecher, who retired in November 2018, saved $173,912 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, Mecher would collect as much as $3.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mecher received $71,791 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mecher will have already received $221,899 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