Quantcast

Chicago City Wire

Tuesday, June 17, 2025

Former firefighter Carrasco paid in $143K to pension fund, could collect $3.51M in retirement

Shutterstock 385535740

Former firefighter Juan Carrasco, who retired in December 2017, saved $143,136 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Carrasco would collect as much as $3.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Carrasco received $73,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Carrasco will have already received $149,619 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS