Sangamon Sun

Sangamon Sun

Tuesday, February 25, 2020

Former ambulance commander Abramski paid in $263K to pension fund, could collect $4.73M in retirement

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By Local Labs News Service | Dec 1, 2018

Money 05

Former ambulance commander John Abramski, who retired in November 2018, saved $262,970 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, Abramski would collect as much as $4.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Abramski received $99,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Abramski will have already received $307,319 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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