Former firefighter West paid in $102K to pension fund, could collect $3.43M in retirement

By Local Labs News Service

Nov 1, 2016

Former firefighter Steve West, who retired in October 2016, saved $101,783 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, West would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes West received $72,175 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, West will have already received $146,515 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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