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Sangamon Sun

Friday, November 22, 2024

Former firefighter Norinsky paid in $181K to pension fund, could collect $3.55M in retirement

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Former firefighter David Norinsky, who retired in December 2018, saved $180,692 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, Norinsky would collect as much as $3.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Norinsky received $74,622 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Norinsky will have already received $230,650 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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