Former state university employee Segura paid in $7K to pension fund, could collect $104K in retirement

By Rock Island Today Reports

Nov 1, 2016

Former state university employee Fredrick Segura, who retired in October 2016, saved $6,543 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Segura would collect as much as $104,150, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Segura received $2,189 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Segura will have already received $6,767 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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