Sangamon Sun

Sangamon Sun

Tuesday, February 25, 2020

Former EMT captain Kowal paid in $215K to pension fund, could collect $4.9M in retirement


By Local Labs News Service | Dec 1, 2018


Former EMT captain William Kowal, who retired in November 2018, saved $215,002 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, Kowal would collect as much as $4.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kowal received $102,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kowal will have already received $318,201 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about City of Chicago Fire Department ?

Sign-up Next time we write about City of Chicago Fire Department, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City of Chicago Fire Department

More News