Quantcast

Chicago City Wire

Wednesday, December 25, 2024

Former captain Digby paid in $184K to pension fund, could collect $4.23M in retirement

Shutterstock 113962678

Former captain Donnell Digby, who retired in November 2016, saved $184,067 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Digby would collect as much as $4.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Digby received $88,979 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Digby will have already received $275,024 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS