Chicago City Wire

Chicago City Wire

Wednesday, November 20, 2019

Former firefighter Bozeman paid in $77K to pension fund, could collect $2.88M in retirement

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By Local Labs News Service | Dec 1, 2016

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Former firefighter Diane Bozeman, who retired in November 2016, saved $76,503 toward a pension over 25 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Bozeman would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bozeman received $60,445 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bozeman will have already received $122,703 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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