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Sangamon Sun

Tuesday, November 12, 2024

Former EMT firefighter Casey paid in $115K to pension fund, could collect $1.99M in retirement

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Former EMT firefighter Shawn Casey, who retired in May 2018, saved $114,575 toward a pension over 16 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Casey would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Casey received $41,781 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Casey will have already received $129,140 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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