Reboot Illinois: Open The Books App Opens The Book On $100,000-Plus Illinois Teacher Pensions /cms/images/spacer.gif

June 9, 2016 04:10 PM
 
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Original Article, click here.

 

Open The Books App Opens The Book On $100,000-Plus Illinois Teacher Pensions 

image002  ADAM ANDRZEJEWSKI June 9, 2016

 

 

App maps out highest Illinois teacher pensions 

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New numbers show that the 7,499 ‘highly compensated,’ six-figure school administrator/teacher annuitants cost Illinois taxpayers nearly $1 billion per year. But in just six years, the problem of six-figure pensions will be three-times worse.

 

Now, after recent Illinois Supreme Court decisions confirming that pension benefits are constitutionally guaranteed, the public employee gravy train is running faster than ever.

 

In a recent look at educator pensions at Forbes, we discovered that by 2017, Illinois income taxpayers will be on the hook for more than 10,000 educator pensions paying more than $100,000. The number of six-figure pensions increased by 57 percent in just the past two years – from 4,767 2013 to 5,930 in 2014.

 

But, it quickly gets much worse. Our data and analysis at OpenTheBooks.com shows that by 2022, over 20,000 Illinois teachers/administrators will have pensions exceeding $100,000 annually.

 

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Growth of 4,767 (2013) six-figure IL teacher pensions to 20,000 recipients (2022) in 9-years.

 

Consider the following examples:

 

  • The Top 500 All-Time pensions: #1 $302,991 (Lawrence Wyllie at Lincoln-Way CHSD) to #100 $200,812 (Michael Radakovic at Aurora East USD 131). Learn more and review the Top 500 All-Time IL teacher pension list.
  • The Top 5 school districts conferring six-figure pensions are Palatine TWP HSD 211, Palatine (449); Township HSD 214, Arlington Heights (419); Consolidated HSD 230, Orland Park (196); Northfield TWP HSD 225, Glenview (188); Maine TWP HSD 207, Park Ridge (180).

Northern Illinois school districts are driving the majority of $100,000 pensions, but income-taxpayers across the whole state guarantee the retirement annuities for everyone.

 

In fact, 7,193 pensions for over $860 million in annual payouts were conferred by districts in the Chicago metropolitan suburban area. Only 306 six-figure pensions totaling $36 million in annual payouts were conferred by school districts in the rest of the state.

 

 

How many six-figure educator pensions were conferred in your school district?  Find out using the interactive map above. The results just might surprise you.

 

 

Original Article, click here.

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