Chicago City Wire

Chicago City Wire

Thursday, November 14, 2019

Former EMT fire engineer Viramontes paid in $173K to pension fund, could collect $3.47M in retirement

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By Local Labs News Service | Dec 1, 2017

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Former EMT fire engineer Carmen Viramontes, who retired in November 2017, saved $173,455 toward a pension over 26 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Viramontes would collect as much as $3.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Viramontes received $73,041 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Viramontes will have already received $225,762 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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