Chicago City Wire

Chicago City Wire

Wednesday, February 19, 2020

Former EMT firefighter Zamora paid in $174K to pension fund, could collect $3.7M in retirement

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By Local Labs News Service | Jan 1, 2018

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Former EMT firefighter Louis Zamora, who retired in December 2017, saved $173,695 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, Zamora would collect as much as $3.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zamora received $77,823 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zamora will have already received $240,544 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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