Quantcast

Chicago City Wire

Monday, December 23, 2024

Former EMT captain Jantz paid in $235K to pension fund, could collect $4.76M in retirement

Shutterstock 233512279

Former EMT captain Edmund Jantz, who retired in November 2016, saved $234,532 toward a pension over 36 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Jantz would collect as much as $4.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jantz received $100,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jantz will have already received $309,165 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS