Pension Reform

Rockford Pensions Release

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Rockford – Taxpayers United of America (TUA) today released the updated study on Rockford, Illinois government employee pensions, publishing the top 200 pensions for Rockford Illinois Municipal Retirement (IMRF) fund and the top 200 pensions of the Teachers’ Retirement Fund (TRS).

“Rockford taxpayers, like the rest of Illinois, can’t afford to pay for outrageous pension promises made decades ago by greedy political hacks. These pensions are nothing more than a contract for union votes and have nothing to do with providing services to taxpayers,” stated Jim Tobin TUA’s president and former economist.

“Everyone knows that property taxes, used to fund the IMRF pensions of the Rockford municipal and county employees, have been rising out of control. Illinois is second in the nation for homes under water on their mortgage with more than 15% of homes worth less than the amount owed. Add to that the crippling property tax bills and Rockford is in the top 20 U.S. cities for foreclosures.”

  • Click here to see the top 200 Rockford TRS pensions
  • Click here to see the top 200 Rockford IMRF Pensions
  • Click here to see the top 200 Rock Valley College SURS pensions

“The teachers’ pensions are some of the most outrageously lavish in the state and gubernatorial candidate J. B. Pritzker is on his way to bail them out at the expense of Illinois taxpayers. If Pritzker is elected governor, he will quickly slam taxpayers with a huge increase in the flat-rate state income tax. Then, he will support the Income Tax Increase Amendment, which would create a graduated income tax increase for middle class taxpayers.

“Illinois is first in the country in outmigration; more taxpayers are moving out of the state than into the state. That means that those of us who stay will have to pay even more in taxes to bail out the lavish, unnecessary government pension that have bankrupted Illinois,” added Tobin.

“Just look at the pensions we are paying for, and in an area that has barely climbed out of the financial slump that most of the rest of the country has nearly forgotten. If Pritzker wins the gubernatorial election, there will be no stopping the Democrats from stealing every last dime from taxpayers.”

“Alan S. Brown, who retired from Rockford government schools, rakes in $177,989 in annual pension payments. This poor, overworked, ‘civil servant’ retired at the ripe old age of 55! Assuming he lives until 85, he will collect $5,320,870. His contribution to that multi-million dollar payout was only 3.3%.”

“Winnebago County retiree Paul A. Vogli also does pretty well with an annual pension of $164,652. He will collect about $4,254,294 in lifetime payments.”

“Nearly all IMRF employees are also eligible for Social Security pensions in addition to their IMRF pensions,” added Tobin

“It is just unreasonable to allow people to retire in their 50’s and early 60’s and expect taxpayers to foot the bill, and if Madigan gets his way and Pritzker wins the governor’s race, government pension reform won’t occur anytime soon,” concluded Tobin.

CHICAGO TRIBUNE CAN’T FIGURE OUT WHY CHICAGO AND ILLINOIS HAVE LOST POPULATION – BUT WE CAN

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CHICAGO—A recent Chicago Tribune article called attention to Chicago’s having lost 3,825 residents last year and 4,879 residents in 2016, and to the fact that Chicago metropolitan area lost residents for three consecutive years.
Illinois dropped from fifth-most populous state to sixth-most populous state in 2017.
The article, Chicago population still tops Houston’s, described the population losses as a “trickle,” and added that “experts are trying to figure out why,” noted Jim Tobin, president of Taxpayers United of America, headquartered in Chicago.
“I can tell you why, and so can everyone other than the Tribune. Two reasons: the city’s and state’s high taxes, forcing taxpayers to flee to states with lower taxes, and the realization that the City of Chicago and State of Illinois are bankrupt and that both will go under in the not-too-distant future.”
“The lavish, gold-plated pensions of retired Chicago and state government-employees are rapidly drying-up their pension funds. Here are some facts regarding the Tribune’s host city.”
“All of the top 200 Chicago pensions for its ‘civil servants’ are at least $100,000 a year,” said Tobin. “The average retirement age for this group of pensioners is only 58. Social Security requires taxpayers to reach age 67 to be eligible for full retirement benefits, which average only about $17,000 a year.”
“I would like to inform the Tribune that the Municipal Employees’ Annuity and Benefit Fund of Chicago, (MEABF) is predicted to be insolvent in 8 years, according to its most recent audit. The auditing firm estimated that taxpayers would have to deposit $1,005,456,621 to make the fund solvent. MEABF does not include Chicago teachers, police, or firefighters who each have their own pension system, all separate from the 6 statewide pension funds.”
“The state of Illinois also is bankrupt. It can’t pay its bills because the outrageously rich government pensions have robbed  the taxpayers blind. And there won’t be a bailout by the state for the city of Chicago – there just isn’t enough taxpayer money, no matter how high taxes are raised.”
“We support the plan by independent gubernatorial candidate William “Dock” Walls to repeal the back-breaking Illinois state income tax.”
 

North Side Residents Drown From Higher Property Taxes

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Chicago – North side residents drown from higher property taxes as The Illinois Pension Crisis worsens.
Already burdened by some of the highest property taxes in the country, Chicago communities such as Lakeview are seeing their property taxes soar after recent property tax assessments. The average increase in Lakeview alone is 32 percent, and increases as high as 50 percent have been reported.  Combined with other tax increases, including another property tax increase pushed by the Mayor of Chicago, the situation is going from bad to worse.
As reported on by the Chicago Tribune, the greedy City of Chicago will be hiking taxes on property, water and sewer. There will also be increased fares for the CTA and increased monthly fees for 911.  The Chicago Turbine has finally identified the cause of these tax increases, Illinois pensions.
“The vast bulk of the money raised will be spent on fixing underfunded government worker pension systems that were at risk of going broke. It’s a point Mayor Rahm Emanuel often raises, also noting that he’s trying to end the practice of papering over Chicago’s longstanding financial woes accrued under former Mayor Richard M. Daley. That, however, may be cold comfort to taxpayers now shouldering the burden.”
The state of Illinois pension system has been a burden on taxpayers for years. A recent example of the Illinois Pension Crisis was Harvey Illinois. It was reported that due to pensions, Harvey Illinois was forced to lay off a quarter of the police force and almost half of their fire fighters to pay lavish pensions.
Below are just some of the pensions the citizens of Chicago are forced to pay.
 

Chicago Municipal Retirees

Top 5 Pensions as of 2017

Name Current Annual Pension Age at Retirement *Estimated lifetime payout
DENNIS  GANNON $194,638 50 $7,791,985
STEPHEN  MURRAY $146,896 53 $5,107,745
KATHRYN  NELSON $142,333 54 $4,713,837
TERESITA  SAGUN $141,231 57 $3,364,221
EDWARD BEDORE $139,080 56 $3,009,775

 
Click here for the Chicago municipal retirees top 200 Pensions
“All of the top 200 Chicago pensions for the ‘poor civil servants’ are at least $100,000 a year,” stated TUA’s president, Jim Tobin. “The average retirement age for this group of pensioners is only 58. Social Security requires taxpayers to reach age 67 before they are eligible for full retirement benefits…which max out at about $32,000 a year”

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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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