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Sangamon Sun

Friday, April 19, 2024

Former EMT fire engineer Strubbe paid in $186K to pension fund, could collect $3.71M in retirement

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Former EMT fire engineer Paul Strubbe, who retired in November 2016, saved $186,364 toward a pension over 30 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Strubbe would collect as much as $3.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Strubbe received $77,947 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Strubbe will have already received $240,926 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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