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Chicago City Wire

Wednesday, December 25, 2024

Former paramedic Estrada paid in $205K to pension fund, could collect $4.92M in retirement

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Former paramedic Jacqueline Estrada, who retired in November 2016, saved $205,474 toward a pension over 30 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Estrada would collect as much as $4.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Estrada received $103,508 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Estrada will have already received $210,121 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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