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Sangamon Sun

Sunday, November 24, 2024

Former fire engineer and paramedic Dreyer paid in $148K to pension fund, could collect $2.65M in retirement

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Former fire engineer and paramedic David Dreyer, who retired in November 2017, saved $147,608 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, Dreyer would collect as much as $2.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dreyer received $55,675 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dreyer will have already received $172,085 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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