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Sangamon Sun

Tuesday, April 23, 2024

Former firefighter Eames paid in $190K to pension fund, could collect $3.44M in retirement

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Former firefighter Benjamin Eames, who retired in December 2017, saved $189,822 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, Eames would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Eames received $72,396 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eames will have already received $223,769 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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