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Chicago City Wire

Friday, November 22, 2019

Former EMT lieutenant Sullivan paid in $158K to pension fund, could collect $3.03M in retirement

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By Local Labs News Service | Dec 1, 2017

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Former EMT lieutenant Lee Sullivan, who retired in November 2017, saved $158,190 toward a pension over 21 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Sullivan would collect as much as $3.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sullivan received $63,641 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sullivan will have already received $196,708 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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