Chicago City Wire

Chicago City Wire

Monday, November 11, 2019

Former EMT captain Kitowski paid in $196K to pension fund, could collect $4.54M in retirement

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By Local Labs News Service | Dec 1, 2018

Money272

Former EMT captain Ronald Kitowski, who retired in November 2018, saved $196,484 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, Kitowski would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kitowski received $95,452 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kitowski will have already received $295,033 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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