Former EMT battalion chief Doherty paid in $222K to pension fund, could collect $4.99M in retirement

By Local Labs News Service

Jan 1, 2017

Former EMT battalion chief Edward Doherty, who retired in December 2016, saved $221,805 toward a pension over 28 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Doherty would collect as much as $4.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Doherty received $104,979 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Doherty will have already received $324,479 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City of Chicago Fire Department

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