Former firefighter Martoccia paid in $101K to pension fund, could collect $2.13M in retirement

By Local Labs News Service

Dec 1, 2016

Former firefighter Rocco Martoccia, who retired in November 2016, saved $101,015 toward a pension over 19 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Martoccia would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Martoccia received $44,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martoccia will have already received $138,107 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City of Chicago Fire Department

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