Quantcast

Chicago City Wire

Thursday, May 2, 2024

Former EMT fire engineer Havranek paid in $177K to pension fund, could collect $3.68M in retirement

Shutterstock 443523112

Former EMT fire engineer William Havranek, who retired in November 2018, saved $177,490 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, Havranek would collect as much as $3.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Havranek received $77,435 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Havranek will have already received $239,344 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS