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Sangamon Sun

Monday, November 25, 2024

Former paramedic Menchaca paid in $113K to pension fund, could collect $2.32M in retirement

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Former paramedic Anna Menchaca, who retired in November 2018, saved $113,473 toward a pension over 20 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Menchaca would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Menchaca received $48,776 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Menchaca will have already received $150,761 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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