IL

Springfield IL Taxpayers Crushed by Gov. Pension Debt

Springfield Illinois TUA

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Springfield, IL – Taxpayer Education Foundation (TEF) today released its updated study on Springfield municipal pensions, Sangamon County government pensions, including the top 200 pensions in the Teachers Retirement System (TRS), Illinois Municipal Retirement Fund (IMRF), and the State University Retirement System (SURS). Taxpayers United of America (TUA) issued the following statement based on the TEF pension study:  

“Springfield taxpayers deserve better from their government. Just in the last year, they have approved a 3.3% property tax increase to throw more money at SD 186 and a new county-wide new sales tax of 1% that would be used for school building repairs and improvements,” stated Jim Tobin, president of TUA.

  “Every ‘new tax’ opens another door for increased theft of taxpayer wealth. Just watch what happens to that inconsequential 1% sales tax. This little 1% now puts parts of Springfield in the position of highest local sales tax in the country at 10.75%. Yes, the highest in the USA! Chicago used to hold that title but it’s not really a contest you want to win,” quipped Tobin.  

“The IMRF pension fund, which gives lavish, gold-plated pension benefits to retired municipal employees, is funded by property taxes. $903 million in property taxes have been shoveled into this fund to keep it afloat.”  

· Click here to see the top 200 Springfield area TRS pensions.

· Click here to see the top 200 Springfield area municipal, and Sangamon County IMRF pensions

· Click here to see the top Springfield area SURS pensions   “The entire local and statewide pension system in Illinois is unsustainable. The other five statewide pension funds are funded by the state income tax. Democrat Governor Jay Robert ‘J. B.’ Pritzker and his tax-raising cronies want to stick it to middle class taxpayers by increasing the income tax under the guise of a ‘more fair’ graduated income tax, so they can make it through the next election cycle. When the state goes under, they will be enjoying their retirements in Arizona or Florida.”

“Middle-class Springfield taxpayers will be decimated by the Pritzker income-tax hike if it passes. There is nothing fair about his ‘fair tax’ that will, by design, siphon even more wealth out of the pockets of the middle-class. And his tax increases won’t stop there as we’ve seen with Pritzker’s gargantuan gasoline tax-hike.”  

“When you look at what individual government retirees are actually collecting in taxpayer funded pensions, you can get a better idea why this theft of taxpayer wealth is so egregious. Keep in mind that the average taxpayer will collect only about $17,500 a year from Social Security, and that IMRF pensioners are also eligible for a Social Security pension.”  

Diane K. Rutledge retired from Springfield SD 186 at the age of 56. Her current annual pension is $187,048. She will collect an estimated $5,854,673 over a normal lifetime.  

Theodore B. Flickinger is collecting an annual pension of $271,579. He retired from the Illinois Association of Park Districts and will collect an estimated $4,667,184 in IMRF pension payments over a normal lifetime. He paid into IMRF only $229,232. Theodore is also eligible for a social security pension.  

Yunus Kathawala retired from University of Illinois – Springfield with a current annual pension of $197,737, Yunus will collect about $4,909,457 in SURS payments over a normal lifetime.  

Illinois is functionally bankrupt, and the cause is runaway government employee pensions with unfunded liabilities so huge that it is mathematically impossible for the state to tax their way out of this financial black hole.  

“All Illinois government new hires should be placed in a 401(k) style retirement savings account, beginning immediately, and the retirement age should be increased to 65. These measures would at least slow the bleeding until comprehensive pension reform can be enacted.”

Rockford Property Taxes Going Up to Fund Gov. Pensions!

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Rockford, IL – Taxpayer Education Foundation (TEF) today released its updated study on Rockford-area government pensions including the top 200 pensions in the Teachers Retirement System (TRS), Illinois Municipal Retirement Fund (IMRF), and the State University Retirement System (SURS). Based on the TEF pension study, Taxpayers United of America (TUA) issued the following statement:

“IMRF pensions, largely kept afloat by property taxes of homeowners and businesses, hit Rockford taxpayers particularly hard. Rockford is right up there with New York and New Jersey. With the fourth highest property taxes in the entire country, Rockford is especially burdened by an effective tax rate of 2.83%,” said Jim Tobin, president of TUA.

“For many homeowners, this means that their property taxes meet or exceed their actual mortgage payment, although this is financially detrimental to every property owner in Rockford.”

“We have passed the point where the government bureaucrats who made these outrageous promises can tax their way out of the problem, although they will try their damndest. This is why Springfield Democrats have put on the 2020 statewide ballot the Income Tax Increase Amendment.

Cook County machine Democrat, Gov. Jay Robert “J. B.” Pritzker and his buddy, Chicago Machine Boss, Michael J. Madigan, Democrat Speaker of the Illinois House, are hoping to keep propping up the pension system by increasing the income tax under the guise of a ‘more fair’ graduated state income tax.”

“I guarantee that the middle class will be hit the hardest by the Income Tax Increase Amendment, as well as all of the new and higher taxes they are implementing.”

  • Click here to see the top 200 Rockford TRS pensions
  • Click here to see the top 200 Rockford and Winnebago County IMRF pensions
  • Click here to see the top Rockford SURS pensions

“Rockford taxpayers, because of their comparatively high property tax rate, will be hit harder by the Pritzker Income Tax Increase Amendment than most Illinoisans.”

“When you look at what the individual government retirees are actually collecting in taxpayer funded pensions, you can get a better idea of why this theft of taxpayer wealth is so egregious. Keep in mind that the average taxpayer will collect only about $17,500 a year from Social Security, and that IMRF pensioners are also eligible for a Social Security pension.”

Paul A. Logil retired from the Winnebago County government and collects an annual pension of $168,424. He retired at the age of 55 and paid $224,614 into the IMRF. His estimated lifetime pension payout is approximately $4,329,741. Paul is also eligible for a social security pension.

Alan S. Brown retired from Rockford SD205 at the age of 55. His current annual pension is $183,329. He paid only $175,892 into TRS and his estimated lifetime payout is $5,321,315.

Karl Jacobs retired from Rock Valley College. His current annual pension of $179,592 is more than the $159,281 he paid into SURS. His estimated lifetime pension payout is $2,833,620.

“What is most troubling about the pension crisis is that none of the elected bureaucrats are willing to do anything to fix the problem. Speaker Madigan obviously is hoping to prop this system up just long enough for him to retire, and escape all responsibility for the financial demise of Illinois.

“All Illinois government new hires should be placed in a 401(k) style retirement savings account beginning immediately, and the retirement age should be increased to 65. These measures would at least slow the bleeding until comprehensive pension reform can be enacted,” said Tobin.

GOV. PRITZKER ORCHESTRATES REGRESSIVE TAXES ON MIDDLE CLASS AND POOR

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The president of Illinois’ largest taxpayer organization today issued a statement condemning Gov. Jay Robert “J. B.” Pritzker for betraying Illinois’ middle class and poor by significantly raising gasoline and cigarette taxes.

“Illinois’ corpulent con-man Pritzker has pushed these cruel and destructive tax increases on the state’s middle class and poor,” said Jim Tobin, president of Taxpayers United of America (TUA). “While middle class taxpayers struggle to make ends meet, the bloated $45 billion ‘infrastructure’ spending package passed is a payoff to the state’s labor unions that feed the Democrat machine. Adding insult to injury, the legislators that passed these massive tax increase will get a pay raise of $1,600 annually.”

“Retired state employees are literally becoming pension millionaires on the backs of workers in the private sector who are funding these lavish, gold-plated pensions with their taxes. In the meantime, these private sector workers, many of whom are losing their retirement plans, must pay a lot more for gasoline and cigarettes.”

“The state’s residents who are poor are the most affected by the enormous, regressive tax increases on these items.”

“The doubling of the state’s 19-cent-per-gallon motor fuel tax to 38 cents, higher fees for license plates and driver’s licenses, a 15% tax on e-cigarettes. and the $1-per-pack cigarette tax hike on the current $1.98 state tax are outrageous.”

“It’s time Illinois voters woke up to how much they are being ripped-off by Pritzker and his fellow Springfield tax-raisers for the benefit of special interests.”

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DISCLAIMER

Taxpayers United Of America: (TUA). is a nonpartisan, 501(c)(4) taxpayer advocacy group. Founded June 27, 1976 in Chicago, Illinois by activist and economist Jim Tobin, TUA works on behalf of taxpayers to reduce local, state, and federal taxes. In the past forty years, TUA has saved taxpayers more than $200 billion n taxes and has become one of the largest taxpayer organizations in America. Check All posts. s.

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