Former paramedic Conway paid in $144K to pension fund, could collect $4.93M in retirement

By Local Labs News Service

May 1, 2016

Former paramedic Thomas Conway, who retired in April 2016, saved $144,395 toward a pension over 39 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Conway would collect as much as $4.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Conway received $103,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Conway will have already received $210,543 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City of Chicago Fire Department

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