LaSalle County Largesse Crushing Taxpayers

By on March 27, 2013   /   Illinois, Latest, Pension Reform  

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Ottawa, IL —Taxpayers United of America (TUA) today released the results of a new pension and salary study of the employees of LaSalle County government employees, LaSalle County government teachers, Illinois Valley Community College and Ottawa (county seat) Municipal government employees.
“Illinois lawmakers continue their abuse of taxpayers by ignoring the number one budgetary problem in the state,” stated Jim Tobin, president of TUA. “Illinois is in horrible financial shape, and yet taxpayers are still expected to pour their hard earned money into a failed government pension system.”
“At 10.8%, LaSalle County has one of the highest unemployment rates in the state. Decreased home values, a 67% increase in state income tax and a 44% increase in Social Security tax have stripped wealth from LaSalle area taxpayers.”
“But the outlook for LaSalle County could be positive, if government bureaucrats can keep their greed in check and allow taxpayers to enjoy the growth that can result from a booming mining industry in the area. Rather than look for ways to pillage this growth industry, county officials should be encouraging this growth by limiting regulations and taxation.”
“The short sighted greed of the very bureaucrats who put their own high pay and pensions above that of their constituents can potentially stop this boom in mining before it gets started. 80% of all local taxes are used to fund salaries and benefits of government employees. More than 11% of LaSalle County residents are government employees.”
“Across the country, millions of bureaucrats are being paid trillions, to do absolutely nothing! With 3%, compounded cost of living adjustments (COLA), LaSalle County government retirees double their pensions after only 24 years of retirement.”
“For example, Steven G. Schoepf  retired from the LaSalle County government at the ripe old age of 55 and collects an annual pension of $64,053. His estimated lifetime pension payout is a stunning $2,798,059, 2.4% of which was his contribution.*”
“At only 60 years of age, Craig A. Carter retired from La Salle-Peru TWP HSD 120 and has an annual pension of $130,971, with a staggering estimated lifetime payout of $4,672,574. His contribution of the estimated lifetime payout would be only 4.1%.*”
“Seven Ottawa municipal government employees who all retired before the age of 59 and some at the age of 50, will each collect more than $1.5 million in pension payments over a normal lifetime.”
“The vast majority of full-time government employees in this study are paid more than the average LaSalle County wage of $37,604 reported by the US Census. Taxpayers simply can’t afford to pay so many, so much.”
Astounding Top Pensions and Salaries for LaSalle County:

“The Illinois government pension system will collapse by 2015 unless there is sweeping reform: raise retirement age to 67, increase employee pension contributions by 10%, increase healthcare contributions to 50%, eliminate all COLA’s, and replace the defined benefit system with a defined contribution system for all new hires. It’s mathematically impossible to tax your way out of this problem and yet LaSalle County government bureaucrats intend to try.”
*Lifetime estimated pension payout includes 3% compounded COLA and assumes life expectancy of 85 (IRS Form 590).

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Quinn, Cullerton & Madigan Fail – Kane and Kendall County Taxpayers Crushed by Hundreds of Pension Millionaires

By on March 12, 2013   /   Illinois, Latest, News Releases, Pension Reform  

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Aurora—Taxpayers United of America (TUA) today released the results of a new pension study of the employees of the Cities of Aurora and Yorkville, Kane and Kendall Counties, Kane and Kendall County government schools, and Waubonsee Community College.
“Illinois lawmakers continue their abuse of taxpayers by ignoring the number one budgetary problem in the state,” stated Jim Tobin, president of TUA. “Illinois is in horrible financial shape, and yet taxpayers are still expected to pour their hard earned money into a failed government pension system.”
“While residents across Kane and Kendall Counties face crushing tax increases, falling home values, high unemployment, and a painfully slow economic recovery, government employees continue to receive stunning pensions largely funded by taxpayers who, on average, collect only $14,800 a year from Social Security. There are currently 104 retired Kane County government teachers collecting pensions over $100,000 per year that accumulate to as much as $8 million in estimated lifetime pension payouts.”
“Pat Quinn, John Cullerton, and Michael Madigan have been draining taxpayers in Kane and Kendall Counties and all across the state for the last 30 years. They would rather trade gold-plated pension benefits for the votes they need to stay in power than to make the reforms necessary to prevent a complete financial meltdown. Across the country, millions of bureaucrats are being paid trillions, to do absolutely nothing! With their 3%, compounded cost of living adjustments (COLA), Illinois’ government retirees double their pensions after only 24 years of retirement.”
“For example, Norman R. Wetzel retired from Community USD 300 at the ripe old age of 55 and collects an annual pension of $225,602. His estimated lifetime pension payout is a stunning $8,016,801, 2.2% of which was his contribution.*”
“At only 56 years of age, Terrence T. Techava retired from Kendall County and has an annual pension of $88,419, with a staggering estimated lifetime payout of $3,709,040. His contribution of the estimated lifetime payout would be only 2.8%.*”
“Retired Aurora municipal government employee, Steven E. Booth, has an incredible lifetime estimated pension payout of $4,885,048*, 2.0% of which he contributed, with an annual pension of $105,202, retiring at only 56.”
View pension grids here:

“Illinois’ government pensions are in dire trouble with no end in sight. Government employees should be paid a fair wage for the work they do today so they can save for their own retirement. Taxpayers simply can’t afford to pay so many, so much, not to work and retirees can’t afford the inaction of Illinois lawmakers who are afraid to alienate the special interest money that keeps them in office.”
“Without sweeping and immediate reform, Illinois’ pension system will collapse. Reform must include raising retirement age to 67, increasing employee contributions by 10%, increasing healthcare contributions to 50%, eliminating all COLA’s, and replacing the defined benefit system with a defined contribution system for all new hires. It’s mathematically impossible to tax your way out of this problem. Illinois has more than 6,700 retirees collecting more than $100,000; in 2020, that will be over 25,000 six figure pensioners.”
*Lifetime estimated pension payout includes 3% compounded COLA and assumes life expectancy of 85 (IRS Form 590).

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Jim Tobin Talks About Pensions and the Illinois State Financial Crisis

By on March 4, 2013   /   Events, Illinois, Latest  

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Chicago – Jim Tobin, president of Taxpayers United of America (TUA) will be a guest on Truth Talk Radio with Bailey and Binsner on WEFT 90.1 on Wednesday, March 6, 2013 at 8:30 p.m.
Jim will discuss the financial crisis that the State of Illinois is experiencing and the leading cause: the lavish, gold-plated pension system that Illinois’ government employees have enjoyed for too long.
Jim will also be speaking on this topic at the monthly meeting of the Illinois Forum in Rantoul, IL on Sunday, March 10, 2013. This month’s meeting is at 1:30 p.m. at the Red Wheel Restaurant located on highway 136 in Rantoul, IL (exit 250 off I-57).
Jim has been sounding the alarm on the unsustainability of the government pension system and leading the charge for reform here in Illinois and across the country.
Tune in or stream live at 8:30 p.m. on Wednesday. Space is limited so tune in early!
For more information on Illinois Forum call 618-842-7246 and for more information on the Red Wheel Restaurant, call 217-893-0471.
 

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