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Sangamon Sun

Tuesday, October 8, 2024

Former EMT fire engineer Estka paid in $198K to pension fund, could collect $4M in retirement

Money 04

Former EMT fire engineer Joseph Estka, who retired in November 2018, saved $198,414 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, Estka would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Estka received $83,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Estka will have already received $259,633 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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