Former paramedic Barber paid in $171K to pension fund, could collect $4.68M in retirement

By Local Labs News Service

Dec 1, 2017

Former paramedic Ronald Barber, who retired in November 2017, saved $171,141 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, Barber would collect as much as $4.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Barber received $98,272 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Barber will have already received $199,492 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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