Quantcast

Chicago City Wire

Tuesday, June 17, 2025

Former fire engineer Gonzales paid in $191K to pension fund, could collect $3.73M in retirement

Money272

Former fire engineer Daniel Gonzales, who retired in May 2018, saved $191,100 toward a pension over 33 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Gonzales would collect as much as $3.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gonzales received $78,452 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gonzales will have already received $242,488 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS