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Sunday, November 24, 2024

Former firefighter Limberopoulos paid in $212K to pension fund, could collect $3.75M in retirement

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Former firefighter John Limberopoulos, who retired in November 2017, saved $212,154 toward a pension over 37 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Limberopoulos would collect as much as $3.75 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Limberopoulos received $78,777 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Limberopoulos will have already received $243,491 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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