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Chicago City Wire

Saturday, May 4, 2024

Former captain Ross paid in $219K to pension fund, could collect $4.37M in retirement

Money 01

Former captain Jonathan Ross, who retired in November 2018, saved $219,274 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, Ross would collect as much as $4.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ross received $91,958 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $284,234 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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