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Chicago City Wire

Wednesday, December 25, 2024

Former EMT lieutenant Ma Ayteh paid in $196K to pension fund, could collect $4.12M in retirement

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Former EMT lieutenant George Ma Ayteh, who retired in November 2016, saved $196,336 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, Ma Ayteh would collect as much as $4.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ma Ayteh received $86,601 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ma Ayteh will have already received $267,675 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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