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Chicago City Wire

Wednesday, April 30, 2025

Former fire engineer Guzman paid in $183K to pension fund, could collect $3.78M in retirement

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Former fire engineer Cesar Guzman, who retired in November 2018, saved $183,300 toward a pension over 38 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Guzman would collect as much as $3.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Guzman received $79,379 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Guzman will have already received $245,352 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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