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Sangamon Sun

Wednesday, May 8, 2024

Former EMT captain Draper paid in $204K to pension fund, could collect $4.98M in retirement

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Former EMT captain Daniel Draper, who retired in September 2018, saved $203,687 toward a pension over 38 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Draper would collect as much as $4.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Draper received $104,744 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Draper will have already received $212,630 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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