View release as a PDF
CHICAGO—Retired Illinois government-employees pull in huge pension payments while Illinois taxpayers bail out the floundering government pension plans with the 67% increase in their state personal income tax, according Jim Tobin, President of Taxpayers United of Illinois (TUA). Tobin added that the number of retired government employees in Illinois getting annual pensions over $100,000 jumped 27% from last year.
The number of government retirees in the Illinois state pension funds getting over $100,000 a year in pension payments rose from 5,294 to 6,706.
Tobin projected that by year 2020, 25,000 government retirees will be getting annual pensions over $100,000.
“The Teachers Retirement System (TRS) pension fund had 3,499 retirees pulling in over $100,000 a year in pension payments as of April 1, 2012,” said Tobin. “The State University Retirement System (SURS) pension fund had 2,108 retirees getting more than $100,000 a year.”
Click here to view the top 100 Illinois State pensions as of April 1, 2012.
“In the State Employees’ Retirement System (SERS), 84 of the top 100 are retired State Troopers, including 28 troopers who retired at age 50 and are getting over $100,000 a year.”
“The largest pension of all retired Illinois government-employees again is Tapas Das Gupta, formerly of the University of Illinois at Chicago. Gupta’s annual pension (as of April 1, 2012) is an astronomical $426,885 — $35,573 a month. So far, Gupta’s pension payout to date is a whopping $3,001,481.”
“With lavish, gold-plated pensions like these, it’s no wonder that the Illinois government pension programs are going broke, and that Springfield politicians are trying to bail them out with tax increases on Illinois citizens whose annual incomes often are lower than what these guys get a month.”
“Immediate and real pension reform is long-overdue. Ending pensions for all new government hires will eventually eliminate unfunded government pensions,” said Tobin. “New government hires should plan for their own retirements by being placed in Social Security and 401(k) plans.”
“Furthermore, if each government employee were required to contribute an additional 10% toward his or her pension, taxpayers would save $150 billion over the next 35 years.”
“Finally, requiring Illinois government employees and retirees to pay for one half of their healthcare premiums would save even more – an estimated $230 billion over current projections.”
View release as a PDF
SPRINGFIELD–A report released today by Taxpayers United of America (TUA) shows that former members of the Illinois General Assembly are now enjoying lavish, gold-plated, million-dollar pensions that they authorized, and that some retired legislators already have collected over a million dollars in pension payments.
Click here to view the top 100 pensions in the General Assembly Retirement System (GARS).
“Our list of the ‘Top 100’ pensions of the General Assembly Retirement System (GARS) is topped by Arthur Berman, author of the infamous ‘Berman Tax Increase Amendment’ to the Illinois Constitution,” said Jim Tobin, TUA President. “Berman receives (as of 4/1/12) an annual pension of $209,531. That’s $17,461 a month. So far, Berman’s total pension paid to date is $1,837,857.”
“Number two on the list is Edward Petka, who receives an annual pension of $166,119, and whose total pension paid to date is $359,844.”
“Two king-size tax-raisers are on the list, one a former governor and the other a former legislator and governor. Former governor James R. ‘Big Jim’ Thompson receives an pension of $10,919 a month, and his total pension paid to date is a mind-boggling $2.1 million.”
“Former governor and legislator, Jim Edgar, receives an annual pension of $138,898, and his total pension paid to date is a sumptuous $1,287,026. He also gets $176,000 from the University of Illinois as a ‘distinguished scholar.’ I wonder how many hours a week he works for his 176 grand.”
“It’s no wonder that Illinois’ government pensions funds are finding themselves under water, and that all of the recent temporary 67% increase in the state personal income tax is being funneled into the state government pension funds.”
“It’s ironic that while members of the state legislature are looking forward to a cushy retirement, House members are considering raising the state’s regressive cigarette tax by a huge $1.00 a pack. This proposed tax hike is a job-killer. It will drive many small shops out of business and will impact the poor most of all. The black market for cigarettes will keep growing. And small shops near the state border that are dependent on cigarette sales might as well just close their doors as smokers drive out of state to purchase cigarettes.”
This release is the fourth in a series. To see the first, click here: Pension Millionaires Draining Lifeblood from TRS Pension Fund. For the second, click here: State Troopers & Corrections Officers Quick to Capture Lavish Pensions. And for the third, click here: For REALLY Big Bucks, Try the State University System.
View release as a PDF
SAN FRANCISCO— It’s time to get the special interest money out of the electoral process. Free and Equal (F&E) and Taxpayers United of America (TUA) released lifetime pension payouts for San Francisco area government retirees.
Taxpayers United of America and Free and Equal today revealed government employee pensions for the San Francisco and Alameda area. California is the 13th state in a nationwide tour for the two organizations.
“The highest lifetime pension payout in 13 states thus far comes from Alameda County at $17.8 million. How much money are bureaucrats willing to bilk taxpayers for before they take action?” asked Christina Tobin, TUA Vice President and Founder and Chair of Free And Equal.
“We are here to tell politicians that we are uniting reformers across the spectrum to throw anyone out of office who who makes deals with special interest and we are building the nationwide tool to support the movement. We will be releasing our Nationwide Database for Pension and Electoral reform in the coming days.”
“While residents across the bay area face crushing taxes, falling home values, and high unemployment, Governor Brown maintains favor with the union leaders by seeking a deal to cut government employee pay by 5%, increase taxes, and leave the pension problem untouched. This is the kind of deal that got us into this mess and yet here Brown is, making his own deal, selling out constituents to save face with union bosses who support him.”
Tobin continued, “For example, Gary Thuman, retired Alameda County employee, collects an annual pension of $396,102. His estimated lifetime payout is $17,824,590*.”
“Heather Fong, retired San Francisco government employee, has an annual pension of $280,350, with an estimated lifetime payout of $11,858,810*.”
“Retired San Francisco government teacher, Mae G. Chan, has a lifetime estimated payout of $9,634,319* based on an actual annual pension of $240,557.”
View pension amounts below:
- Alameda County Gov Teachers Top 100
- Alameda County Gov Employees Top 100
- San Francisco County Gov Teachers Top 100
- San Francisco CA City Gov Employees Top 100
- California State Assembly Top 20
- University of California Top 100
“California’s government pension systems are crushing middle class Californians. Replacing defined benefit pensions for all new government hires with social security and 401(k)s would eventually eliminate unfunded government pensions. If current government employees would just increase their pension contributions, they would preserve their pension benefits. We need a stable system that is fair to both taxpayers and beneficiaries or pension checks will stop coming.” Added Tobin, who attended Thursday’s Pacific Research Event that examined public pensions.
*TUA submits FOIA requests for actual pensions. Since personal information is not available, lifetime pension payouts are estimated based on retirement at 55, life expectancy of 85 (IRS Form 590), and 3% COLA.
