Click here to view Indiana’s Top 25 Pensions
Click here to view Indiana’s State Judges Pensions
Click here to view Indiana’s State Employees Pension
Click here to view Indianapolis’s Top 100 Teacher’s Salaries & Estimated Pensions.
INDIANAPOLIS–A report released today by Taxpayers United of America (TUA) reveals that Indianapolis government employees are not only receiving generous salaries, but that over a normal lifetime, many of these government employees when they retire will become pension millionaires. Indiana bureaucrats refuse to release pension figures, so total pension payouts were estimated for this report. The bureaucrats of the city of Indianapolis and Marion County have refused to provide salary information, violating Indiana state law.
“While Marion County taxpayers struggle through this recession with an average wage of $51,000, a median home value of $122,000 and 9% unemployment, government employees really rake it in while they are employed and then when retired. Taxpayers not only foot the entire bill for the lush salaries but 100% of these government employee pensions are funded by the taxpayer. In many cases, even the lump sum Annuity Savings Account is also completely funded by the taxpayers who will have to work until they drop to fund their neighbors’ retirement,” said Christina Tobin, TUA Vice President. “
“Starting first with the top 25 Pensions and Lump-sum Distributions (2010) for the entire state, heading the list is T. A. Crean of Indiana University, whose salary is $600,000. When he retires, he will receive an estimated annual pension of $198,000. In addition to his pension, he will receive either a lump-sum of $510,000 or an annuity. Crean’s estimated total pension payout over a normal lifetime is $7,425,000.”*
“Judge Patrick Miller received a gross pay in 2010 of $125,647, and his estimated total pension payout over a normal lifetime is $1,884,705.”
“State employee Peggy Sue Stephens of Madison St. Hospital received an annual salary (2010) of $243,586. Her estimated lump-sum payment at retirement is $207,048, and her estimated total pension payout over a normal lifetime is $3,295,725.”
“Heading the list of Indianapolis government school Teachers’ Top 100 salaries (2010) and estimated pensions is Claudette Dyson, pulling in a generous wage of $107,359. When Dyson retires, she will receive a lump-sum payment of $91,255 as well as $1,452,565 in estimated total pension payments over a normal lifetime.”
“Indianapolis’ pension system is making millionaires out of public employees at taxpayer expense. Ending pensions for all new government hires would eventually eliminate unfunded government pensions; putting new government hires into social security and 401(k)s would achieve this. If each current government employee were required to contribute an additional 10% toward his or her pension, taxpayers would save billions of dollars.”
“We need to knock all politicians out of office who make deals with bad government union bosses and bad corporate power brokers at the expense of the taxpayers.”
*Assumes retirement at age 55 after 30 years.
Click here to view this news release as a PDF.
Click here to view Chicago Teacher’s Top 100 Pension Payouts To Date.
CHICAGO — A list released by Taxpayers United of America (TUA) of the Top 100 pensions of retired Chicago Public School teachers shows that many of these retired teachers have already collected huge amounts of cash compared with their relatively small employee contributions, according to the President of TUA.
“A small pension contribution of $126,000 mushroomed into millions of dollars for one retiree, and the payout is still growing at taxpayer expense,” said Jim Tobin, TUA President.
“In Chicago, property taxes pay for both public school salaries and generous pensions. The biggest portion of homeowners’ property tax bills is for public schools, and 80% of these property tax dollars goes for salaries and pensions.”
“Manford Byrd, who has contributed only $126,561 to his retirement plan, already has collected an estimated total pension payout of $2,580,793.”
“Robert Saddler, who has contributed only $108,335 to his retirement plan, already has collected an estimated total pension payout of $2,063,207.”
“The broken pension system must be reformed. Ending pensions for all new government hires will eventually eliminate unfunded government pensions; putting new government hires into social security and 401(k)s would achieve this.”
“One possible solution to this problem is to require each government employee in the Chicago teachers pension fund to contribute an additional 10% toward his or her pension. This would provide taxpayers billions of dollars in property tax relief.”
For further information on this issue, click here to view another recent and related story.
Click here to view this news release as a PDF.
Chicago–The plan by the City of Chicago to install automated speed cameras in locations covering nearly half the city have nothing to do with protecting school children, but, rather, will be used to protect and bolster the lavish, gold-plated pensions of retired city government employees, according to the president of Taxpayers United of Illinois (TUA).
Click here to view the Senate Votes on SB965
“On Wednesday, the State Senate approved this expansion of cameras in Chicago by a 32-24 vote, and now the legislation goes to the State House,” said Jim Tobin, TUA President. “Senate President John Cullerton (D-6, Chicago) helped his Democratic buddy, Chicago Mayor Rahm Emanuel (D), by pushing this legislation through the Senate, and now Chicago Machine Boss and House Speaker Michael Madigan (D-22, Chicago) will attempt to shepherd SB965 through the Illinois House.”
Click here to hear Jim Tobin being interviewed by WBBM Newsradio’s John Cody
“This expansion of speed cameras has nothing to do with protecting school children,” said Tobin. “If the purpose were school safety, then the automatic speed cameras would be limited to school speed zones and cover no more than 10 percent of city streets. This is a blatant, cynical attempt to pour millions of dollars into city coffers at the expense of Chicago drivers to benefit greedy bureaucrats and city employees.”
Click here to view the Top 100 Chicago Police Pensions
“I urge Chicago Taxpayers to contact their State Representatives and urge them to vote against SB965 passed by the Illinois Senate.”
Click here to view this News Release as a PDF.
