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Chicago City Wire

Sunday, September 29, 2024

Former EMT lieutenant Flowers paid in $130K to pension fund, could collect $3.12M in retirement

Money272

Former EMT lieutenant Anthony Flowers, who retired in December 2016, saved $129,759 toward a pension over 24 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Flowers would collect as much as $3.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Flowers received $65,597 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Flowers will have already received $133,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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