Former battalion chief paramedic Lyman paid in $265K to pension fund, could collect $5.5M in retirement

By Local Labs News Service

Dec 1, 2018

Former battalion chief paramedic Glen Lyman, who retired in November 2018, saved $265,042 toward a pension over 35 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Lyman would collect as much as $5.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lyman received $115,639 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lyman will have already received $357,428 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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