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Chicago City Wire

Sunday, September 29, 2024

Former paramedic Bomben paid in $217K to pension fund, could collect $4.93M in retirement

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Former paramedic Marjorie Bomben, who retired in December 2016, saved $217,340 toward a pension over 32 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Bomben 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 Bomben received $103,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bomben will have already received $320,464 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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