Former New Haven Police Chief Karl Jacobson, who is accused of stealing money from a city bank account, will receive about $10,000 a month — roughly $124,000 a year — as part of his pension, according to retirement paperwork.

Jacobson is also receiving two additional years of credited service and five extra years of pension benefits for 150 days of unused sick time.

He retired suddenly last Monday after being confronted about missing money from the confidential informant fund that he allegedly used for personal expenses.

Mayor Justin Elicker said in a statement that the state's attorney and Connecticut State Police are leading the criminal investigation and Jacobson will be held accountable. He added the city has no legal authority to withhold or remove his pension, as is the case with all city employees.

Elicker said if Jacobson is convicted or pleads guilty, the state attorney general can revoke or reduce his pension.