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Sangamon Sun

Tuesday, November 26, 2024

Former EMT captain Stala paid in $248K to pension fund, could collect $4.97M in retirement

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Former EMT captain Robert Stala, who retired in July 2018, saved $247,728 toward a pension over 38 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Stala would collect as much as $4.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stala received $104,488 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stala will have already received $322,963 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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