Chicago City Wire

Chicago City Wire

Monday, February 17, 2020

Former EMT lieutenant Kooistra paid in $168K to pension fund, could collect $4.34M in retirement


By Local Labs News Service | Jan 1, 2018

Money 04

Former EMT lieutenant Andrew Kooistra, who retired in December 2017, saved $167,615 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Kooistra would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kooistra received $91,325 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kooistra will have already received $185,390 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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