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Chicago City Wire

Saturday, May 4, 2024

Former EMT fire engineer Klasek paid in $132K to pension fund, could collect $2.49M in retirement

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Former EMT fire engineer Jay Klasek, who retired in March 2016, saved $132,340 toward a pension over 20 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Klasek would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Klasek received $52,344 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Klasek will have already received $161,789 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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