Taxpayers at LiberTEA Fest 2019

By on September 9, 2019   /   jim tobin, Latest, Pension Reform  


Taxpayers were in Galesburg Saturday, September 7, 2019 for the wonderful IL LiberTEA Fest 2019. Jim Tobin, President of TUA gave a speech exposing the Illinois government pension scam. Local taxpayers were amazed at just how much former government employees were receiving. For example: Ronald L. Cope, who retired at the age of 56 receives an annual taxpayer funded pension of $142,268 a year! Ronald, and many other goons were listed on a flyer handed out to the crowd. These flyers were so popular they ran out.

Jim Tobin will be visiting another city to release even more government pension data soon. Will it be your city? Stay tuned!

Click HERE to view top Galesburg Govt. Pensions as a PDF.

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PENSION CONSOLIDATION BILLS WOULD RAISE PROPERTY TAXES WITHOUT REFERENDUM AND WEAKEN THE SOUND PENSION PLANS

By on August 22, 2019   /   Latest, Pension Reform  

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CHICAGO—The head of Taxpayers United of America (TUA) today voiced his group’s opposition to long-standing requests of Illinois cities and towns to consolidate more than 650 police and fire pension funds, saying that the funds are in such bad financial condition that property tax increases, without property tax increase referendums, would result, and that the funds still would be essentially insolvent. Jim Tobin, TUA president, also voiced opposition specifically to House Bill 1567, sponsored by St. Rep. Ryan Spain (R-73, Peoria), which would amend the Illinois Pension Code to merge all Article 3 police officers’ pension funds and Article 4 firefighters’ pension funds into the Illinois Municipal Retirement Fund (IMRF) on January 1, 2021.

“Illinois’ five statewide government-employee pension funds have a staggering $134 billion in unfunded liabilities,” said Tobin. “Chicago’s four pension funds are struggling with $28 billion in unfunded liabilities.”

“Merging government pension funds would solve nothing, and the better-funded pension funds would see their assets diluted.”

“Illinois Governor Jay Robert ‘J. B.’ Pritzker (D) has appointed a task force to recommend changed to the statewide pension funds, but we know what’s coming. Cook County machine boss Pritzker orchestrated placing the Income Tax Increase Amendment on the 2020 statewide ballot, which would strangle Illinois’ economy with a graduated state income tax.”

“Almost all the money from the last huge income tax increase was plowed into the state’s floundering pension plans for retired government employees, and it didn’t even move the needle. If boss Pritzker succeeds in fooling voters into approving his income tax increase amendment, even that crushing tax hike would not solve the state pension crisis.”

“To be clear: It is impossible for the state to tax its way out of the state’s pension fund crisis. The pension funds are too far gone.”

“The only solution is to place all newly-hired government employees in 401(k) retirement plans, and, if necessary, place the worst of the present pension plans into bankruptcy.”

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Rockford Property Taxes Going Up to Fund Gov. Pensions!

By on August 9, 2019   /   IL, jim tobin, Latest, Pension Reform  

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Rockford, IL – Taxpayer Education Foundation (TEF) today released its updated study on Rockford-area government pensions including the top 200 pensions in the Teachers Retirement System (TRS), Illinois Municipal Retirement Fund (IMRF), and the State University Retirement System (SURS). Based on the TEF pension study, Taxpayers United of America (TUA) issued the following statement:

“IMRF pensions, largely kept afloat by property taxes of homeowners and businesses, hit Rockford taxpayers particularly hard. Rockford is right up there with New York and New Jersey. With the fourth highest property taxes in the entire country, Rockford is especially burdened by an effective tax rate of 2.83%,” said Jim Tobin, president of TUA.

“For many homeowners, this means that their property taxes meet or exceed their actual mortgage payment, although this is financially detrimental to every property owner in Rockford.”

“We have passed the point where the government bureaucrats who made these outrageous promises can tax their way out of the problem, although they will try their damndest. This is why Springfield Democrats have put on the 2020 statewide ballot the Income Tax Increase Amendment.

Cook County machine Democrat, Gov. Jay Robert “J. B.” Pritzker and his buddy, Chicago Machine Boss, Michael J. Madigan, Democrat Speaker of the Illinois House, are hoping to keep propping up the pension system by increasing the income tax under the guise of a ‘more fair’ graduated state income tax.”

“I guarantee that the middle class will be hit the hardest by the Income Tax Increase Amendment, as well as all of the new and higher taxes they are implementing.”

  • Click here to see the top 200 Rockford TRS pensions
  • Click here to see the top 200 Rockford and Winnebago County IMRF pensions
  • Click here to see the top Rockford SURS pensions

“Rockford taxpayers, because of their comparatively high property tax rate, will be hit harder by the Pritzker Income Tax Increase Amendment than most Illinoisans.”

“When you look at what the individual government retirees are actually collecting in taxpayer funded pensions, you can get a better idea of why this theft of taxpayer wealth is so egregious. Keep in mind that the average taxpayer will collect only about $17,500 a year from Social Security, and that IMRF pensioners are also eligible for a Social Security pension.”

Paul A. Logil retired from the Winnebago County government and collects an annual pension of $168,424. He retired at the age of 55 and paid $224,614 into the IMRF. His estimated lifetime pension payout is approximately $4,329,741. Paul is also eligible for a social security pension.

Alan S. Brown retired from Rockford SD205 at the age of 55. His current annual pension is $183,329. He paid only $175,892 into TRS and his estimated lifetime payout is $5,321,315.

Karl Jacobs retired from Rock Valley College. His current annual pension of $179,592 is more than the $159,281 he paid into SURS. His estimated lifetime pension payout is $2,833,620.

“What is most troubling about the pension crisis is that none of the elected bureaucrats are willing to do anything to fix the problem. Speaker Madigan obviously is hoping to prop this system up just long enough for him to retire, and escape all responsibility for the financial demise of Illinois.

“All Illinois government new hires should be placed in a 401(k) style retirement savings account beginning immediately, and the retirement age should be increased to 65. These measures would at least slow the bleeding until comprehensive pension reform can be enacted,” said Tobin.

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