Quantcast

Sangamon Sun

Friday, April 26, 2024

Former firefighter Cajigas paid in $139K to pension fund, could collect $2.54M in retirement

Shutterstock 469426916

Former firefighter Robert Cajigas, who retired in October 2017, saved $138,799 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, Cajigas would collect as much as $2.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Cajigas received $53,291 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cajigas will have already received $164,718 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