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Sangamon Sun

Monday, July 7, 2025

Former EMT captain Nolan paid in $221K to pension fund, could collect $4.84M in retirement

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Former EMT captain Martin Nolan, who retired in September 2017, saved $221,075 toward a pension over 35 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Nolan would collect as much as $4.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Nolan received $101,731 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nolan will have already received $314,440 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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