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Chicago City Wire

Thursday, May 2, 2024

Former EMT fire engineer Stolfe paid in $151K to pension fund, could collect $2.78M in retirement

Money 05

Former EMT fire engineer Anthony Stolfe, who retired in November 2018, saved $150,758 toward a pension over 21 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Stolfe would collect as much as $2.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stolfe received $58,487 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stolfe will have already received $180,778 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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