Quantcast

Sangamon Sun

Saturday, April 20, 2024

Former EMT battalion chief Owsianiak paid in $216K to pension fund, could collect $4.88M in retirement

Money 02

Former EMT battalion chief Mark Owsianiak, who retired in December 2017, saved $216,410 toward a pension over 27 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Owsianiak would collect as much as $4.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Owsianiak received $102,645 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Owsianiak will have already received $317,265 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS