Click here to view Chicago Teacher’s Top 100 Pension Payouts To Date.
CHICAGO — A list released by Taxpayers United of America (TUA) of the Top 100 pensions of retired Chicago Public School teachers shows that many of these retired teachers have already collected huge amounts of cash compared with their relatively small employee contributions, according to the President of TUA.
“A small pension contribution of $126,000 mushroomed into millions of dollars for one retiree, and the payout is still growing at taxpayer expense,” said Jim Tobin, TUA President.
“In Chicago, property taxes pay for both public school salaries and generous pensions. The biggest portion of homeowners’ property tax bills is for public schools, and 80% of these property tax dollars goes for salaries and pensions.”
“Manford Byrd, who has contributed only $126,561 to his retirement plan, already has collected an estimated total pension payout of $2,580,793.”
“Robert Saddler, who has contributed only $108,335 to his retirement plan, already has collected an estimated total pension payout of $2,063,207.”
“The broken pension system must be reformed. Ending pensions for all new government hires will eventually eliminate unfunded government pensions; putting new government hires into social security and 401(k)s would achieve this.”
“One possible solution to this problem is to require each government employee in the Chicago teachers pension fund to contribute an additional 10% toward his or her pension. This would provide taxpayers billions of dollars in property tax relief.”
For further information on this issue, click here to view another recent and related story.
Click here to view this news release as a PDF.
Chicago–Taxpayers United of America (TUA) 35th anniversary celebration was a giant success. Illinois taxpayers and leaders from all over the country were in attendance. Click here to view pictures from the event.
WBBM Newsradio 780 & 105.9FM is broadcasting a story highlighting Taxpayers United of America’s efforts as well as the 35th celebration. The story can be heard on the air Friday and Saturday.
[audio:https://www.taxpayersunitedofamerica.org/wp-content/uploads/wbbm35th.mp3|titles=wbbm35th]
Click here to view this release as a PDF.
CHICAGO–Christina Tobin, Vice President of the taxpayer watchdog group, Taxpayers United of America (TUA), and president of Free and Equal Elections, will appear on FOX NEWS CHANNEL’S Fox and Friends, this Saturday, the morning of October 29th at 6:30 a.m. CDT. She will discuss the public pension conundrum in Illinois, and how to fix it.
Click here to view Illinois’ Top 100 Government Pensions
Tobin travels extensively nationally, addressing public pension issues in the United States. She believes that a comprehensive approach to electoral reform is best, that the pension problems are solvable, and once solved, will contribute greatly to fixing the myriad States’ budget crises.
Click here to view TUA’s proposed solutions to Illinois’ Pension Problem
Click here to view this News Release as a PDF.
