For the Good of Illinois

Stockman's corner: Why Illinois Is A Fiscal Basket Case

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2016-05-03_18-24-50
 
Original article here
 

Why Illinois Is A Fiscal Basket Case: 10,000 Retired Teachers With $100,000+ Pensions

by Forbes • April 25, 2016
 
By Adam Andrzejewski at Forbes
 
New numbers show that the 7,499 ‘highly compensated,’ six-figure school administrator/teacher retirees cost IL taxpayers nearly $1 billion per year. But in just six years, the problem of six-figure pensions will be three-times worse.
 
In 2014 I wrote in Forbes about a pair of union lobbyists who substitute taught for one-day in the public schools and then started collecting over $1 million of lifetime public ‘teacher’ pension payout – despite a state law expressly designed to stop them.
 
Now, after recent Illinois Supreme Court decisions confirming that pension benefits are constitutionally guaranteed (including the pensions for the pair of union lobbyists above), the public employee gravy train is running faster than ever.
 
2016-05-03_18-13-07
 
Original article here
 

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