Wisconsin Government Pension Multimillionaires Protected by Secrecy Law

By on October 22, 2013   /   Items of Interest, Latest, Pension Reform, Taxpayer Alert, Wisconsin  

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Madison—Taxpayers United of America (TUA) today released the results of its study of the Wisconsin State, University of Wisconsin, Madison Municipal, Dane County, and Dane County Government school employees.
“The State of Wisconsin refuses to release actual pension payments, hiding behind a secrecy law, the huge subsidies from taxpayers. Because we have a right to know just how much ‘public servants’ get paid not to work, we estimate the pensions of current employees.” stated Jim Tobin, president of TUA.
“While Wisconsin has made some important reforms to its government employee pension system, taxpayers won’t be protected until retirement savings accounts replace pensions and put an end to unfunded liabilities.”
“Wisconsin boasts a 99% funded pension system but the government standards for this calculation are far more generous than private sector standards. When those more accurate standards are used, Wisconsin government pensions are only about 54% funded.”
“75% to 80% of local taxes go to pay the salaries and pensions of government employees. Taxpayers have a right to see the details of those payments. How can taxpayers understand exactly how much their government employees are being paid in total compensation, salary plus benefits, without access to the actual payments to retirees? We have a right to review, evaluate and make decisions about those payments.”
“That is precisely why we are here now, releasing the salaries and pension estimates for the Wisconsin government employees.”
“For example, David C. Villa, a board executive for the state, makes a stunning $669,145 in annual salary. Assuming he meets the criteria for a full pension, he would collect an estimated annual pension and Social Security payment of $494,401*. Those annual payments would accumulate to $10,382,430* over a normal lifetime.”
“University of Wisconsin Athletics Director, James K. Aagaard  gets an annual salary of $500,000. His estimated annual pension with Social Security is $376,000* and his estimated lifetime payout is $7,896,001*.”
“Dane County government school employee, Jane Belmore gets an annual salary of $201,438 and fringe benefits of $36,588. Her estimated lifetime pension payout is $3,507,139* based on her annual estimated pension and Social Security payment of $167,007*.”
“Wisconsin taxpayers who are on the hook for unfunded liabilities get an average ‘pension’ from Social Security of about $15,000. Private sector taxpayers don’t enjoy nearly iron-clad job security and struggle with average unemployment of 6.7% and in some areas, over 10%.”
“While our pension estimates are a very useful education tool, I encourage Madison and all Wisconsin taxpayers to demand the right to review pension payments. I have written letters to Governor Walker and every member of the state legislature, urging them to stop hiding pension payments from taxpayer review.”
“Wisconsin needs not only to be more transparent, but to continue with pension reforms that will bring its government employee benefits in line with those of the private sector. Specifically, government pensions need to be replaced with 401k-style retirement savings accounts where taxpayer contributions are made when the conditions allow it. Government employees need to increase their contributions to match the level of the private sector, and government retirees and employees need to pay for at least half of their health-care premiums.”
Click below to view pensions:

 
*Gross wages provided by government administrator and may include overtime or PTO that would not be eligible for pension calculation.
Annual Pension Estimate Assumptions:
1. Assumes employee retires one year from now and this salary would be the second to last salary.
2. Assumes 41 or more years of employment, retirement age is 65, and pension is 70%
3. Plus Social Security assuming 4% salary increases over last 35 years.
Lifetime Pension Estimate uses IRS Life Expectancy Table (Form 590) at age 65 = 21 years

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Red-Light Cameras Rake In Money For Cities As They Increase Accidents

By on October 17, 2013   /   Items of Interest, Latest, News Advisory, News Releases, Taxpayer Alert  

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CHICAGO—Red-light cameras are a scam whose only purpose is to generate millions of dollars for cities and towns, and, furthermore, actually increase accidents, not decrease them, according to Jim Tobin, President of Taxpayers United of America.
“Chicago Mayor Rahm Emanuel must have felt a tingle go up his leg when he announced last week that red-light cameras would be coming Jan. 31 at 18 Chicago intersections,” said Tobin. “He is looking forward to the additional millions of dollars that will be funneled into city coffers to fund the lavish, gold-plated Chicago government-employee pensions.”
“Emanuel stated that such cameras have reduced accidents, but this is either a sign of ignorance, or a lie.”
“One report after another has shown the reverse is true: Red-light cameras increase accidents. But they also increase revenues for municipalities, which is why politicians love them.”
“The National Motorists Association website has a sampling of these studies.”

“Taxpayers are being nickel-and-dimed to death by greedy politicians, except we’re not talking about nickels and dimes. In addition to having to pay out big bucks, motorists are suffering increased injuries caused by rear-end collisions. Only politicians and orthopedic surgeons are benefiting.”

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Chicago Speed-Trap Cameras ‘Discriminatory and Racist’

By on October 16, 2013   /   Items of Interest, Latest, News Releases, Taxpayer Alert  

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CHICAGO—The head of one of the nation’s largest taxpayer organizations today called Chicago’s plan to install more than 100 speed-trap cameras in the city “discriminatory, racist and unconscionable.”
“The greed of Chicago politicians knows no bounds,” said Jim Tobin, President of Taxpayers United of America (TUA). “Chicago and the city’s government-employee pension funds are in dire financial condition, but rather than standing up to the unions and cutting spending and forcing pension-reform, Mayor Emanuel and his rubber-stamp city council once more will stick it to Chicagoans and motorists unfortunate enough to be passing through Chicago.”
“These speed-trap cameras have nothing to do with safety. They will provide a windfall of many millions of dollars for city coffers, which will be used to prop-up the finances of the city and its government-employee pension funds.”
“To be blunt, the speed-trap camera program is racist and discriminatory, impacting minorities and the poor who will struggle to find $100 for going 11 miles per hour over the speed limit.”
“How much of a penalty will be assessed for non-payment of the fine? These fines are often twice the amount of the ticket or more. There are government laws to protect us from private businesses gouging us, but who protects us from the government gouging us?”
“I strongly urge the Chicago City Council to say to Mayor Emanuel, ‘Enough is enough!’ and review and reconsider this entire program.”
TUA testified against the speed-trap cameras at the City Council hearings held on April 11, 2012.
 

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