TUA president and founder, Jim Tobin, was quoted by WCMY radio , about the recent Illinois General Assembly Retirees’ pension release.
Chicago — Taxpayers United of America says the Illinois legislature’s generous pensions have a lot do with why the state is broke. The organization announced Tuesday, its analysis of pension contributions and payouts shows the average former lawmaker has paid in less than $53,000 but will get about $1.3 million back in retirement. The organization says the General Assembly system is not about poor civil servants and fairness.
Among the local examples on the group’s list:
- Former St. Rep. Peg Breslin who later served as an appellate court judge paid in $60,000 and gets almost twice that every year for a pension. She has received $1.2 million so far.
- Former St. Rep. Pat Welch paid in $129,000 and has been paid $810,000 so far on his way to a projected $2.8 million.
- Former St. Rep. Tom Walsh, now a LaSalle County Board member put in $91,000 and has received nearly $1 million so far.
- Dennis Hastert, who went on to serve in the U.S. House including a period as the House Speaker, paid in just $19,000 to get $28,000 per year and $413,000 so far.
- Former St. Sen. Gary Dahl paid in just under $50,000 and has received $115,000 so far.
Excerpted data from TUA’s list released Tuesday.
|Illinois General Assembly retirees’ pensions as of January 27, 2016|
|reported by Taxpayers United of America|
|Projections assume life expectancy of 85 and 3% cost of living adjustment compounded annually|
|Name||Current Annual Pension||Member Contributions to Pension Fund||Age at Retirement||Total Pension Collected to Date||Estimated Lifetime Pension Payout||Employee Contribution % of Estimated Lifetime Payout|
|Peg M. Breslin||$ 112,754||$ 60,556||56||$ 1,220,719.79||$ 3,317,816||1.8%|
|Patrick D. Welch||$ 85,533||$ 129,138||56||$ 810,456.80||$ 2,813,172||4.6%|
|Tom P. Walsh||$ 59,099||$ 91,139||55||$ 994,563.35||$ 1,447,408||6.3%|
|J. Dennis Hastert||$ 28,026||$ 19,806||55||$ 413,518.22||$ 772,468||2.6%|
|Gary G. Dahl||$ 24,465||$ 49,965||70||$ 115,274.13||$ 363,819||13.7%|