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Sangamon Sun

Friday, April 19, 2024

Former EMT lieutenant Dillon paid in $149K to pension fund, could collect $2.99M in retirement

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Former EMT lieutenant Robert Dillon, who retired in September 2017, saved $148,704 toward a pension over 22 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Dillon would collect as much as $2.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dillon received $62,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dillon will have already received $194,204 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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