Former EMT battalion chief Mark paid in $243K to pension fund, could collect $5.24M in retirement

By Local Labs News Service

Dec 1, 2018

Former EMT battalion chief Michael Mark, who retired in November 2018, saved $242,977 toward a pension over 31 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Mark would collect as much as $5.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mark received $110,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mark will have already received $340,716 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City of Chicago Fire Department

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