Former EMT firefighter Lesher paid in $110K to pension fund, could collect $3.61M in retirement

By Local Labs News Service

Oct 1, 2016

Former EMT firefighter Philip Lesher, who retired in September 2016, saved $109,986 toward a pension over 36 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Lesher would collect as much as $3.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lesher received $75,860 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lesher will have already received $153,996 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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