Former state university employee Ezeugwu paid in $5K to pension fund, could collect $210K in retirement

By Rock Island Today Reports

Mar 1, 2016

Former state university employee Nnamal Ezeugwu, who retired in February 2016, saved $4,695 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ezeugwu would collect as much as $209,739, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Ezeugwu received $4,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ezeugwu will have already received $8,948 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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