Quantcast

Sangamon Sun

Tuesday, November 5, 2024

Former EMT firefighter Mickey paid in $94K to pension fund, could collect $1.6M in retirement

Shutterstock 113962678

Former EMT firefighter John Mickey, who retired in December 2018, saved $94,061 toward a pension over 12 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Mickey would collect as much as $1.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mickey received $33,675 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mickey will have already received $104,086 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