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Chicago City Wire

Wednesday, April 30, 2025

Former firefighter Harper paid in $39K to pension fund, could collect $3.59M in retirement

Money759

Former firefighter Russell Harper, who retired in November 2018, saved $38,564 toward a pension over 38 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Harper would collect as much as $3.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Harper received $75,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Harper will have already received $75,539 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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