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Chicago City Wire

Friday, November 22, 2024

Former paramedic Pluta paid in $22K to pension fund, could collect $3.83M in retirement

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Former paramedic John Pluta, who retired in January 2019, saved $22,081 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, Pluta would collect as much as $3.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pluta received $80,586 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Pluta will have already received $80,586 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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