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Former fire engineer Monsour paid in $152K to pension fund, could collect $3.73M in retirement

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By Local Labs News Service | Jan 1, 2018

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Former fire engineer Ralph Monsour, who retired in December 2017, saved $152,261 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, Monsour would collect as much as $3.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Monsour received $78,482 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Monsour will have already received $159,318 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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