Quantcast

Sangamon Sun

Monday, November 25, 2024

Former EMT battalion chief Scheurich paid in $176K to pension fund, could collect $3.64M in retirement

Shutterstock 381111379

Former EMT battalion chief John Scheurich, who retired in November 2018, saved $175,573 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, Scheurich would collect as much as $3.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Scheurich received $76,578 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Scheurich will have already received $236,694 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