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Chicago City Wire

Friday, December 27, 2024

Former EMT lieutenant Polli paid in $220K to pension fund, could collect $4.25M in retirement

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Former EMT lieutenant Daniel Polli, who retired in November 2016, saved $220,038 toward a pension over 36 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Polli would collect as much as $4.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Polli received $89,355 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Polli will have already received $276,188 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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