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Chicago City Wire

Saturday, April 20, 2024

Former EMT captain Ollry paid in $161K to pension fund, could collect $4.81M in retirement

Money 04

Former EMT captain John Ollry, who retired in May 2017, saved $161,063 toward a pension over 35 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Ollry would collect as much as $4.81 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ollry received $101,055 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ollry will have already received $205,142 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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