Gold Found in Springfield, IL!

By on December 4, 2012   /   Illinois, Items of Interest, Latest  

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Springfield—Taxpayers United of America (TUA) today released the results of a new pension study for the Illinois General Assembly, Springfield municipal government employees, Sangamon County government teachers and the University of Illinois.
“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 Sangamon County face crushing tax increases, falling home values, rising unemployment, and a painfully slow economic recovery, government employees continue to receive stunning pensions largely funded by taxpayers who will never collect more than $22,000 a year from Social Security.”
“Chicago Machine Boss, Michael Madigan, Gov. Pat Quinn, and the Democrats have been draining taxpayers in Springfield and all across the state for the last 30 years, trading gold-plated pension benefits for the votes they need to stay in power. Across the country, millions of bureaucrats are being paid billions, to do absolutely nothing!”
“The purpose of our study is to put some perspective around individual pensions, to put them in terms to which the average taxpayer can relate. Area taxpayers, whose average income is $50,000, need to know how much Springfield’s government retirees are being paid not to work and the astronomical accumulation of those payments over an average lifetime.”
“For example, Tapas Das Gupta, retired from the University of Illinois and collects Illinois’ highest annual pension of $426,885. He has already collected $3.2 million in pension payments and his estimated lifetime pension payout is stunning $8.3 million, 5.7% of which was his contribution.*”
“Robert A. Alvey, retired from the Springfield Sanitary Dist. and has an annual pension of $131,592, with a staggering estimated lifetime payout of $4,247,263. His contribution of the estimated lifetime payout would be only 2.4%* ”
“Retired Sangamon government school district employee, Robert E. Gillum, has an incredible lifetime estimated pension payout of $7,100,157*, 2.5% of which he contributed, with an annual pension of $146,946.”
View pension amounts below:

“Illinois’ government pensions are in serious 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. Replacing defined benefit pensions for all new government hires with social security and 401(k)s would eventually eliminate unfunded government pensions.”
“Without sweeping and immediate reform that includes raising retirement age to 67, increasing employee contributions by 10%, increasing healthcare contributions to 50%, and replacing the defined benefit system with a defined contribution system for all new hires, Illinois’ pension system will collapse. 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 about 8 years, that will be over 25,000 six figure pensioners.”
*Lifetime estimated pension payout assumes life expectancy of 85 (IRS Form 590).

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Tax Accountability Announces 2012 Endorsements

By on October 29, 2012   /   Items of Interest, Latest, News Releases  

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Chicago—Today, Tax Accountability, the political action arm of Taxpayers United of America (TUA), announced its Illinois candidate endorsements for the November 6, 2012 general election.
“This is an important time to elect lawmakers at all levels of government, who promise to vote against any and all tax increases,” said Jim Tobin, president of TUA.
“I urge voters to support these individuals who have indicated their intent to spend taxpayer money responsibly and have signed our Taxpayer Protection Pledge in which they vow to vote NO on any tax increases. TUA will not endorse any candidate that does not sign our pledge.”

Cook County Commissioner of the Board of Review

U.S. House of Representatives

Illinois State House

Illinois State Senate

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Adams County Crushed by Government Pensions

By on October 23, 2012   /   Illinois, Items of Interest, News Releases, Pension Reform  

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Quincy—Taxpayers United of America (TUA) today released the results of a new pension study for the Quincy municipal government employees, Adams County government employees and Adams County government teachers.
“Illinois lawmakers have only flirted with reforms of the government pension system,” stated Jim Tobin, president of TUA. “Illinois is in just about the worst financial shape and yet taxpayers are still expected to pour their hard earned money into a failed system.”
“While residents across Adams County face crushing tax increases, falling home values, rising unemployment, and a painfully slow economic recovery, government employees continue to receive stunning pensions largely funded by taxpayers who will never collect more than about $22,000 a year from Social Security.”
“Chicago Machine Boss, Michael Madigan, and the Democrats have been draining taxpayers in Quincy and all across the state for the last 30 years without addressing the number one budget problem: outrageously lavish, government employee pensions. Across the country, millions of bureaucrats are being paid billions, to do absolutely nothing!”
“The purpose of our study is to put some perspective around individual pensions, to put them in terms to which the average taxpayer can relate. Area taxpayers, whose average income is $39,000, need to know how much Quincy’s government retirees are being paid not to work and the astronomical accumulation of those payments over an average lifetime.”
Tobin continued, “For example, Nicholas N. Schildt, retired from government school district 172 and collected a 2012 pension of $194,663. His starting pension, when he retired, was $153,532. He has received more than the average annual wage for this area in cost of living adjustments alone. His estimated lifetime pension payout is stunning $6.9 million, of which he only contributed 2.4%.*”
“Richard A. Klusmeyer, retired from the Adams County government, has an annual pension of $80,598, with a staggering estimated lifetime payout of $2,077,462.* ”
“Retired Quincy municipal government employee, Donald J. Kulek, has a lifetime estimated pension payout of $2,553,495*, with an annual pension of $60,465.”
View pension amounts below:

“Illinois’ government pensions are in serious 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. Replacing defined benefit pensions for all new government hires with social security and 401(k)s would eventually eliminate unfunded government pensions.”
“The only way taxpayers will get relief from the tax-raisers who ‘temporarily’ increased our income tax by 67% is to throw all the Democrats out of Springfield and make Madigan the house minority leader,” added Tobin. “If we don’t, taxes will go even higher and the pension system will collapse anyway. 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 about 8 years, that will be over 25,000 six figure pensioners.”
*Lifetime estimated pension payout assumes life expectancy of 85 (IRS Form 590).

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