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Chicago City Wire

Tuesday, June 17, 2025

Former EMT lieutenant Malandruccolo paid in $178K to pension fund, could collect $4M in retirement

Money 06

Former EMT lieutenant Gary Malandruccolo, who retired in December 2017, saved $178,191 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, Malandruccolo would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Malandruccolo received $83,989 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Malandruccolo will have already received $259,602 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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