Chicago City Wire

Chicago City Wire

Monday, November 18, 2019

Former EMT battalion chief Loper paid in $198K to pension fund, could collect $4.69M in retirement


By Local Labs News Service | Aug 1, 2017

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Former EMT battalion chief David Loper, who retired in July 2017, saved $198,135 toward a pension over 27 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Loper would collect as much as $4.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Loper received $98,628 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Loper will have already received $200,215 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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