Former state school employee Cabel paid in $223K to teachers' pension fund, could collect $5.22M in retirement

By Rock Island Today Reports

Aug 1, 2016

Former state school employee Wayne Cabel, who retired in July 2016, saved $223,092 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cabel would collect as much as $5.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Cabel received $109,778 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cabel will have already received $339,312 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline-Coal Valley School District 40

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