Former state university employee Cabanilla paid in $15K to pension fund, could collect $415K in retirement

By Local Labs News Service

Mar 1, 2018

Former state university employee Francis Pol Cabanilla, who retired in February 2018, saved $15,290 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cabanilla would collect as much as $415,253, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cabanilla received $8,728 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cabanilla will have already received $17,718 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University Illinois of Chicago

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