Sangamon Sun

Sangamon Sun

Monday, February 17, 2020

Former paramedic Prude paid in $138K to pension fund, could collect $2.36M in retirement

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By Local Labs News Service | Oct 1, 2018

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Former paramedic Gradie Prude, who retired in September 2018, saved $138,229 toward a pension over 20 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Prude would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Prude received $49,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Prude will have already received $153,432 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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