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Chicago City Wire

Tuesday, June 17, 2025

Former firefighter Rosado paid in $188K to pension fund, could collect $3.54M in retirement

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Former firefighter Richard Rosado, who retired in October 2018, saved $187,733 toward a pension over 32 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Rosado would collect as much as $3.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rosado received $74,469 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosado will have already received $230,176 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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