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Sangamon Sun

Monday, November 25, 2024

Former EMT firefighter Brown paid in $67K to pension fund, could collect $1.42M in retirement

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Former EMT firefighter Dennis Brown, who retired in February 2016, saved $67,342 toward a pension over 11 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Brown would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Brown received $29,903 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $92,427 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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