Quantcast

Chicago City Wire

Wednesday, April 30, 2025

Former firefighter Stelnicki paid in $176K to pension fund, could collect $3.55M in retirement

Money 07

Former firefighter Joseph Stelnicki, who retired in November 2018, saved $175,796 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, Stelnicki would collect as much as $3.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stelnicki received $74,545 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stelnicki will have already received $230,410 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS