Here's a major reason the pension systems are broken:
Let's just grab a few examples at "random:"
- Jim Edgar, former governor, made pension payments totaling $164,000. For his troubles, he collects an annual pension of almost $135,000 per year. His total since leaving the governor's office - $1,229,827. And from everything we can see, Edgar is reasonable healthy and like to live a quite a few more years;
- Dawn Clarke Netsch, holder of many offices, paid a whopping $87,000 in pension payments and collects an annual return of $125,372. Her grand total - $1,644,511;
- James Thompson, former governor, made pension payments totaling nearly $85,000. He collects an annual pension of $131,000 and change. Total payout to date - over $2,000,000. Half the contributions of Edgar, but double the payout.
The table we linked above has 25 names on it, a mere drop in the bucket of Illinois politico's feeding at the trough. We're sure the complete list is more than awful enough to even imagine.
It would be interesting to compare the payments put in by these folks over the course of their political careers compared to those of say, Chicago Police Officers, who right off the bat, contribute nearly 10% of their base salaries to a pension fund that is nearly insolvent and that percentage is sure to rise during the next contract negotiations.
Keep an ear out for calls to be made and letters to be written.
It would be interesting to compare the payments put in by these folks over the course of their political careers compared to those of say, Chicago Police Officers, who right off the bat, contribute nearly 10% of their base salaries to a pension fund that is nearly insolvent and that percentage is sure to rise during the next contract negotiations.
Keep an ear out for calls to be made and letters to be written.