Chicago Homeowners To See Big Property Tax Hikes Due To Government-School Retiree Pensions

By on September 13, 2012   /   Illinois, Latest, Pension Reform  

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CHICAGO–Not only are Chicago homeowners going to see big increases in their property taxes due to the unconscionable 16% pay raise offered to striking Chicago government-school teachers, but the lavish, gold-plated pensions being paid to retired Chicago government teachers will result in additional hikes in their property taxes, according to Jim Tobin, President of Taxpayers United of Illinois (TUA).
“Chicago homeowners, through their property taxes, are on the hook for the huge salary increases currently being negotiated by the school board and the Chicago Teachers Union,” said Tobin. “But even worse are the extravagant pensions being paid to retired Chicago government-school teachers.”
“Our list of the ‘Top 100’ pensions paid to retired Chicago government-school teachers, ranked by estimated lifetime pension payout, highlights the stunning pensions largely funded by taxpayers — taxpayers who will never collect more than about $22,000 a year from Social Security.”
“Chicago government-school teacher pensions are out of control. These retired bureaucrats are being paid millions to do absolutely nothing. After retirement, most will live for decades, and many will become pension millionaires.”
View the top 100 teacher pensions for Chicago government schools here.
“Heading our list of the ‘Top 100’ Chicago Teacher pensions as of April 4, 2012 is Barbara Eason-Watkins, whose current annual pension is $156,103. Her estimated lifetime pension payout is an incredible $5,973,659.”
“Number two on the list is Miguel Trujillo, whose annual pension is $119,870. His estimated lifetime pension payout is $5,361,206.”
“Even the retiree at the bottom of the ‘Top 100’ list, Daniel Trahey, is raking in the bucks. His annual pension is $116,562, and his estimated lifetime pension is $1,639,699.”
“These retired Chicago government-school teachers are literally becoming pension millionaires by being paid for doing absolutely nothing, courtesy of Chicago homeowners. The Chicago government school pension program is unsustainable, and the property taxes of Chicago homeowners will be raised again and again until they revolt at the polls and throw from office the mayor and city council members who are the tools of the Chicago Teachers Union.”

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Charlotte Taxpayers Grapple With Crushing Government Pensions

By on September 12, 2012   /   Latest, North Carolina, Pension Reform  

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Charlotte—Taxpayers United of America (TUA) today released the results of a new pension study of Charlotte Municipal and Mecklenburg County government retirees.
“North Carolina lawmakers have only flirted with reforms of the government pension system, and not without boosting their own pensions,” stated Rae Ann McNeilly, Director of Outreach for TUA. “North Carolinians have been led to believe that their system is in good health, but with inflated actuarial practices and a limping economy, meaningful reforms are imperative.”
“While residents across North Carolina face crushing taxes, falling home values, 9.3% 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.”
“North Carolina is the 18th state in our nationwide pension reform tour and the results are consistent with our findings across the country: government pensions are out of control. 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. Taxpayers need to know how much North Carolina’s government retirees are being paid not to work and the astronomical accumulation of those payments over an average lifetime. Hundreds of government retirees’ pensions being released today will accumulate to millions of dollars in payouts.”
McNeilly continued, “For example, James W. Schumacher, retired at age 57 from the Charlotte Municipal government and collects an annual pension of $114,367. His estimated lifetime pension payout is stunning $3,750,760.*”
“James Irving Pendergraph, retired from Mecklenburg County government at the age of 57, has an annual pension of $101,314, with a staggering estimated lifetime payout of $3,085,778.* ”
“Retired Mecklenburg County government teacher, Gregory Clemmer, has a lifetime estimated pension payout of $3,708,541*, with an annual pension of $117,401, having retired at 56.”
View pension amounts below:

“North Carolina’s government pension systems are crushing middle class North Carolinians. 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. Current government employees must consider a voluntary pension contribution of up to 10% to preserve their pension benefits. Additionally, all members should pay for 50% of their healthcare premiums. We need a stable system that is fair to both taxpayers and beneficiaries or pension checks will stop coming,” added McNeilly.
*Annual pensions are actual amounts provided by the respective fund. Lifetime estimates include the sum of the pension paid to date and the projected remaining payments with a 1% COLA. Uses a life expectancy of 85 (IRS Form 590), the actual retirement date and age at retirement

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Platinum Pensions Crushing Taxpayers in Greensboro NC

By on September 11, 2012   /   Latest, North Carolina, Pension Reform  

View release as a PDF
Greensboro—Taxpayers United of America (TUA) today released the results of a new pension study of Greensboro and Winston-Salem municipal, and Guilford and Forsyth County government retirees.
“North Carolina lawmakers have only flirted with reforms of the government pension system, and not without boosting their own pensions,” stated Rae Ann McNeilly, Director of Outreach for TUA. “North Carolinians have been led to believe that their system is in good health, but with inflated actuarial practices and a limping economy, meaningful reforms are imperative.”
“While residents across North Carolina face crushing taxes, falling home values, 9.3% 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.”
“North Carolina is the 18th state in our nationwide pension reform tour and the results are consistent with our findings across the country: government pensions are out of control. 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. Taxpayers need to know how much North Carolina’s government retirees are being paid not to work and the astronomical accumulation of those payments over an average lifetime. Hundreds of government retirees’ pensions being released today will accumulate to millions of dollars in payouts.”
McNeilly continued, “For example, Sharon S. Ozment, retired at age 56 from the Guilford County Schools and collects an annual pension of $133,765. Her estimated lifetime pension payout is stunning $4,496,776.*”
“J. E. Kitchen, retired from Greensboro municipal government at the age of 56, has an annual pension of $114,993, with a staggering estimated lifetime payout of $3,613,944.* ”
“Retired Winston-Salem Municipal government employee, James Allen Joines, has a lifetime estimated pension payout of $2,731,826*, with an annual pension of $79,142, having retired at 52.”
View pension amounts below:

“North Carolina’s government pension systems are crushing middle class North Carolinians. 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. Current government employees must consider a voluntary pension contribution of up to 10% to preserve their pension benefits. Additionally, all members should pay for 50% of their healthcare premiums. We need a stable system that is fair to both taxpayers and beneficiaries or pension checks will stop coming,” added McNeilly.
*Annual pensions are actual amounts provided by the respective fund. Lifetime estimates include the sum of the pension paid to date and the projected remaining payments with a 1% COLA. Uses a life expectancy of 85 (IRS Form 590), the actual retirement date and age at retirement

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