College Pension Abuse- Big Dogs Report Adam

November 25, 2013 05:00 AM

$20 BILLION UNDER-FUNDED

STATE UNIVERSITY PENSION PLAN (SURS)

"Each passing day without pension reform threatens

the excellence of higher education at the 65 colleges & universities."
Institute of Government & Public Affairs, University of Illinois 
March 12, 2013



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 Vernon O. Crawley, Moraine Valley Community College

$673,000 final year salary vs. $260,000 inflation adjusted final salary

Then, Crawley retired...

Pension:  $330,000 per year- $27,000 per month!


THIS IS OBSCENE:
With no "skin-in-the-game," colleges are conferring excessive salaries and slamming taxpayers for the pension costs. Colleges pay zero in pension funding costs. Employees pay in 8% of salary. State taxpayers are on the hook for the rest...

"THE BIG DOGS"- STATE UNIVERSITY RETIREMENT SYSTEM

Click Here to review TOP 100 ALL-TIME University Pensions
- 15 pensions exceed $300,000 per year.

Here are some highlights:

  • $516,000 (2012) annual pension- Dr. Leslie Heffez DMD  from University of Illinois at Chicago- embarked on a second career in "private practice" as an entrepreneur dental surgeon with multiple North Shore offices.
  • $420,000 (2011) annual pension-  Ron Guenther is the former Athletic Director at the University of Illinois. Click here for salary history from $330,000 (2003) to $608,000 (2010).
  • $348,000 (2013) annual pension, Al Bowman was the President of Illinois State University.
  • Former Governor Jim Edgar (R)- $139,000 annual pension from being governor plus $181,710 salary as a "professor" at the University of Illinois. Total cost: over $320,000 per year.

"TOP 100" 2012 COLLEGE & UNIVERSITY ACTIVE SALARIES:
Click Here- the current salaries are driving the future pensions!

NUMBER OF COLLEGE EMPLOYEES UP 80%, COLLEGE ENROLLMENT UP 7% Illinois colleges and universities employed 52,000 in 2002. By 2012, total employment has risen to 90,000. This is unsustainable.

 
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ADAM ANDRZEJEWSKI
Founder, OpenTheBooks.com

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