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Sangamon Sun

Thursday, April 25, 2024

Former EMT lieutenant Podlasek paid in $191K to pension fund, could collect $4.27M in retirement

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Former EMT lieutenant Gary Podlasek, who retired in February 2017, saved $191,320 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Podlasek would collect as much as $4.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Podlasek received $89,824 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Podlasek will have already received $277,638 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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