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OUTRAGEOUS GOVERNMENT-EMPLOYEE PENSIONS HARMING LAKE COUNTY TAXPAYERS!

The Taxpayer Education Foundation (TEF) today released its study of the Lake County area government-employee pensions, highlighting the top pensions in the Teachers Retirement System (TRS), the State Universities Retirement System (SURS) and the Illinois Municipal Retirement Fund (IMRF). Taxpayers United of America (TUA) issued the following statement based on the TEF pension study.

“It is no mystery what’s driving the economy-killing property tax increases in Lake County,” said Jim Tobin, TUA president. “It’s the state’s lavish, gold-plated pension plans for retired government employees.”

“The perpetual tax increases that plague Illinois residents have nothing to do with children, roads, or services. They are about pensions for the privileged government class. This money may be ‘earmarked’ for buildings or whatever, but in reality it only frees up increased taxes for government pensions. It’s a shell game.”

“Those of us in the private sector must reduce our spending if our income decreases; we can’t just go to our employer and demand more money to fund irresponsible spending. That’s not true for the political class.”

“The IMRF pension fund, which gives lavish, gold-plated pension benefits to retired municipal employees, is subsidized by property taxes. If that isn’t bad enough, IMRF pensioners are also eligible to receive Social Security pensions.”

“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 outrageous. Keep in mind that the average taxpayer will collect only about $17,500 a year from Social Security.”

“Here are some egregious examples.”

“Dwight Magalis retired from the Lake County government at the age of 52! His current annual pension from IMRF is $172,303. He will receive $3,030,251 in total pension payments over a normal lifetime. He also is eligible for Social Security. ”

“Henry S. Bangser retired from New Trier TWP HSD 203 at the age of 57. His current annual pension is $331,489. For a total contribution he made to his pension of only $336,612, he will accumulate $9,557,306 in taxpayer funded pension payments over a normal lifetime. What a racket!”

“Girard Weber retired from the College of Lake County at the age of 66. His current annual pension is $304,266. For a total contribution he made to his pension of only $314,282, he will receive $7,015,970 in total pension payments over a normal lifetime. Wow!”

“Linda L. Yonke retired from New Trier TWP HSD 203 at the age of 63. Her current annual pension is $263,645. She will receive $7,484,592 in total pension payments over a normal lifetime.”

Click here to view all top Lake County Pensions.

“The entire local and statewide pension system in Illinois is unsustainable. The other five statewide pension funds are partly 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 state income tax again. They placed, on the November 2020 ballot, another statewide income tax increase.

What does a statewide income tax increase mean for you? It means stealing from you to subsidize government pension millionaires.”

“The federal graduated income tax was sold to taxpayers as ‘a tax cut for the middle class.’ How did that turn out?”

“The state government employee pension system is the single cause of Illinois’ critical financial situation and it is mathematically impossible to tax our way out of this situation.”

“The Illinois government in Springfield has failed us. It’s in everyone’s best interest to solve the pension problem before the system completely collapses. It is no longer a matter of ‘if’ it will collapse, but when.”

“All new hires should be placed into 401(k) style retirement savings accounts. Member contributions to their retirement funds should be increased. Retirement age for full benefits should be increased to at least 65, preferably to 67, and contributions for health care also should be increased. Anything short of these reforms will do nothing to permanently solve the problem.”

Pro-Income Tax Increase AARP Event Flops

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Oak Park-The “Illinois Tax Solutions Forum” presented by AARP, which is staunchly supporting the graduated income tax increase amendment, was a complete flop.

“Very few people were there,” said Val Zimnicki, Taxpayers United of America (TUA) Director of Outreach. “Even with the Full-Page ad in the Chicago Sun Times, I counted only 33 people.”  

“I am glad the event flopped,” said Jim Tobin, TUA President. “Not only did AARP present the debate, they also actively participated in it and sided against taxpayers. The fact that tax thieves are starting to peddle propaganda so early indicates their desperation.”  

“Two years ago, Illinois passed a $5 billion dollar income tax increase that went exclusively to paying lavish government pensions. Now Springfield, led by Governor Pritzker is coming back for more. Illinoisans will have the opportunity on Tuesday November 3, 2020 to tell these greedy politicians that enough is enough.”

INCREASING CLASS SIZE KEY TO SOLVING CPS FISCAL WOES

school TUA

CHICAGO—The Chicago Board of Education can help homeowners avoid another massive property tax increase by shedding thousands of teachers, according to the president of one of the country’s largest taxpayer organizations.

“Laying-off a few thousand teachers and increasing class size would greatly help balance the books,” said Jim Tobin, President of Taxpayers United of America (TUA).

For the 2018-2019 school year, CPS reported 37,375 staff positions including 21,334 teachers and 511 principals.

“Private schools have traditionally had larger class sizes than government schools, and they have done a much better job of educating their students,” said Tobin. “The teachers’ union wants to decrease class size in order to make more teaching positions necessary. It’s a power grab, and the added teachers will not increase student achievement.”

“In addition to larger class sizes, overpaid physical education teachers should be among the first to go. Gym, art and music classes should be made optional, so that only those students with the necessary talent can take advantage of them.”

“Study after study has established that there is no appreciable correlation between class size and academic achievement. For example, in 2018 the Campbell Collaboration, a Norwegian research group reviewed 127 studies on class size. Their research shows that small class sizes had little to no improvement to student performance.”

“The class-size myth is perpetuated by the union bosses and their legislative cronies to increase the number of union jobs for both teachers and laborers. It is a scam to extract even more taxpayer wealth from the pockets of the middle class,” said Tobin.

“Chicago homeowners can’t afford another property tax increase in order to inflate teacher-union membership. It’s time to lay-off several thousand teachers and increase class size. This would be a significant step toward stabilizing city and CPS finances.”

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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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