Quantcast

Chicago City Wire

Monday, November 25, 2024

Former paramedic Matuszak paid in $130K to pension fund, could collect $3.04M in retirement

Shutterstock 369740408

Former paramedic David Matuszak, who retired in February 2017, saved $130,118 toward a pension over 26 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Matuszak would collect as much as $3.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Matuszak received $63,956 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Matuszak will have already received $197,682 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS