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Sangamon Sun

Sunday, May 4, 2025

Former firefighter Oliver paid in $153K to pension fund, could collect $3.02M in retirement

Money 01

Former firefighter Robert Oliver, who retired in December 2016, saved $153,209 toward a pension over 26 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Oliver would collect as much as $3.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Oliver received $63,412 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oliver will have already received $195,999 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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