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Chicago City Wire

Wednesday, April 30, 2025

Former fire engineer Paukstys paid in $198K to pension fund, could collect $3.63M in retirement

Money 08

Former fire engineer Stephen Paukstys, who retired in May 2016, saved $197,947 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, Paukstys would collect as much as $3.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Paukstys received $76,224 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paukstys will have already received $235,601 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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