Quantcast

Chicago City Wire

Thursday, May 1, 2025

Former lieutenant Ward paid in $114K to pension fund, could collect $4.1M in retirement

Money759

Former lieutenant Kevin Ward, who retired in September 2017, saved $114,195 toward a pension over 37 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Ward would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ward received $86,076 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ward will have already received $174,734 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS