Wish you had an Illinois Government Pension? yep

 

 

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What do you think the annual pension will be for a member of the Internal Revenue Service’s top brass after working 33 years in government?

Five figures? Six figures?

If you live in Illinois, you likely chose six figures. But according to the Daily Mail, Lois Lerner — of IRS infamy and tea party targeting — could be in line for a pension of about $50,000 a year.

That’s a more-than-tidy sum that’s inspiring outrage across America.

Everywhere, that is, except for here in Illinois.

Maybe that’s because we’re used to seeing supersized pensions handed out on a regular basis.

And it isn’t just former governors, school district administrators, university coaches and doctors who are in line for generous payouts.

Although government unions peddle the line that the average pension is meager, the real numbers tell a much different story.

A member of the Teachers’ Retirement System who retired in 2012 after 30 or more years on the job could expect an initial average annual pension of $72,693.

After just 10 years of cost-of-living adjustments, the pension would be worth more than what the person made in salary at retirement.

Reviews of the pension payouts for state workers, university employees, legislators and judges tell a similar story.

It’s a fact — confirmed by the pension systems’ own reports – that workers retiring today after spending most or all of their careers in Illinois government will benefit from exceedingly generous pensions.

Pretending otherwise does not help advance meaningful reform solutions for the troubled pension funds that pose a growing burden for Illinois residents and threaten core services.

In liberty,


Kristina Rasmussen

Executive Vice President
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P.S. Read the full report on average pensions in Illinois.

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