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Chicago City Wire

Wednesday, December 25, 2024

Former EMT lieutenant Oswald paid in $187K to pension fund, could collect $4.08M in retirement

Money 07

Former EMT lieutenant William Oswald, who retired in November 2016, saved $186,955 toward a pension over 28 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Oswald would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Oswald received $85,791 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oswald will have already received $265,172 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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