Former battalion chief Thames paid in $149K to pension fund, could collect $4.95M in retirement

By Local Labs News Service

Apr 1, 2017

Former battalion chief Robert Thames, who retired in March 2017, saved $148,842 toward a pension over 37 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Thames would collect as much as $4.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thames received $104,141 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Thames will have already received $211,406 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City of Chicago Fire Department

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