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Chicago City Wire

Sunday, September 29, 2024

Former EMT lieutenant Skawski paid in $175K to pension fund, could collect $3.75M in retirement

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Former EMT lieutenant James Skawski, who retired in December 2016, saved $174,684 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, Skawski would collect as much as $3.75 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Skawski received $78,770 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Skawski will have already received $243,470 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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