Quantcast

Sangamon Sun

Tuesday, November 5, 2024

Former firefighter Gundersen paid in $136K to pension fund, could collect $3.11M in retirement

Shutterstock 249974521

Former firefighter Mark Gundersen, who retired in December 2018, saved $135,650 toward a pension over 26 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Gundersen would collect as much as $3.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gundersen received $65,365 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gundersen will have already received $202,037 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