Chicago City Wire

Chicago City Wire

Tuesday, November 12, 2019

Former lieutenant Crawford paid in $156K to pension fund, could collect $3.05M in retirement

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By Local Labs News Service | Dec 1, 2018

Money 06

Former lieutenant Kevin Crawford, who retired in November 2018, saved $155,880 toward a pension over 22 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Crawford would collect as much as $3.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Crawford received $64,116 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crawford will have already received $198,175 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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