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Chicago City Wire

Sunday, May 5, 2024

Former EMT fire engineer Hallman paid in $200K to pension fund, could collect $4.05M in retirement

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Former EMT fire engineer David Hallman, who retired in November 2018, saved $200,364 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, Hallman would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hallman received $85,042 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hallman will have already received $262,856 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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