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Chicago City Wire

Friday, November 22, 2024

Former paramedic Limberopoulos paid in $154K to pension fund, could collect $2.78M in retirement

Money 06

Former paramedic Vera Limberopoulos, who retired in December 2018, saved $154,105 toward a pension over 22 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Limberopoulos would collect as much as $2.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Limberopoulos received $58,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Limberopoulos will have already received $180,851 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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