Illinois Press Archives - Page 27 of 85 - Taxpayers United Of America

Medill Reports Chicago|As state’s finances sink, anti-tax group lets barbs, blame fly

By temp-admin on March 3, 2016 / Illinois, Illinois Press, Latest, Pension Reform

Taxpayers United of America’s president, Jim Tobin, was quoted by Medill Reports Chicago about the latest data release of the top 200 Illinois Teachers’ Retirement System pensions..

Taxpayers United of America President Jim Tobin called Wednesday for Illinois taxpayers to oust Speaker of the House Michael Madigan in the upcoming March primary.
As lawmakers continue to grapple with the state’s pension system, which currently has more than $100 million in underfunded obligations, the TUA released its annual analysis of the Illinois’ Teachers’ Retirement System, tabulating the top 200 pension for former state teachers.
“He’s the biggest problem we have in this state,” Tobin said, referring to Madigan. “He’s the biggest single enemy of Illinois taxpayers.”
Madigan, along with the Democratic supermajority in Springfield, and Gov. Bruce Rauner, who Tobin supports, continue to spar over the state’s financial situation.
Madigan has represented the 22nd District on Chicago’s South Side for 45 years but faces an up-start primary challenger, Jason Gonzalez, 41, a Harvard-educated, first-time candidate. Although the TUA does support candidates, the organization has not endorsed Gonzalez.
Tobin said taxpayer anger has existed for sometime, but incumbents like Madigan have remained in office because no viable opposition has emerged. Tobin said he hopes Gonzalez can finally unseat Madigan.
“Boss Madigan has had the Illinois taxpayers in his death grip for far too long,” Tobin said. “There’s no accountability.”
Tobin has his own critics, too.
“Mr.Tobin’s opinions of TRS and other state government agencies have been consistently incorrect for at least 30 years,” David Urbanek, spokesman for the Teachers’ Retirement System wrote in an email. “His criticisms are false and without merit.”
TUA has compiled the annual list for the last decade. Tobin criticized teachers for collecting substantial pension payments and called for Illinois to adopt similar reforms as other states, including Arizona and Wisconsin.
The highest-compensated teacher on the 2016 list is Lawrence Wyllie, a 56-year veteran of Lincoln Way Community High School in New Lennox. Wyllie’s annual pension is about $312,000.
The average annual compensation for the top 10 teachers on the list is $289,900.
The Illinois primary is set for March 15, 2016.

Madison Record|Taxpayers' advocate says under-funded Judicial Retirement System rife with conflicts of interest

By temp-admin on February 23, 2016 / Illinois, Illinois Press, Latest, Pension Reform

Taxpayers United of America’s president, Jim Tobin, was quoted by Madison Record about the latest pension data release of the Illinois Judicial Retirement System.

Most of the state’s public pension systems are perilously under-funded, and the Illinois Judicial Retirement System (JRS) is no exception.
Taxpayers United of America (TUA) recently analyzed JRS data and found these startling statistics:
– The average amount that judges contributed to their own pension fund is $124,387, or 4.5 percent of estimated lifetime payout.
– The average estimated lifetime payout is $2.8 million. Lifetime estimated pension payout includes 3 percent compounded cost of living adjustment and assumes life expectancy of 85.
– The average years of service is 17.8.
“Our analysis of JRS reveals more of the same taxpayer abuse that we have found across the state’s government pension system,” said TUA President Jim Tobin, in a press release that provided JRS pensioner data.
“Not only do these judges benefit from the redistribution of taxpayer wealth, they also rule in their own favor to protect the Illinois pension cabal when practical, necessary reforms are challenged in the courts.”
Retired judges in the state’s Fifth Judicial District on average will make at least 20 times – or 2,000 percent – more in lifetime benefits than they paid into their pension fund.
A review of 39 of these judges’ benefits shows that the total of their contributions into JRS was $6,920,809 and their estimated lifetime benefit will be $150,543,282. The total paid to date to these judges is $33,096,062.
The current annual amount paid to them is $5,534,401, with an average annual benefit of $141,908.
Retired Supreme Court Justice Philip Rarick of Troy is the top recipient with an annual benefit of $203,859. He served 29.83 years on the bench, having retired from the high court at age 64 in December 2004. He contributed $179,998 into JRS, and his contribution of lifetime benefits is estimated at 4.5 percent.
He was paid $173,261 annually at the time he left office.
Rarick has so far received $1,913,508 in retirement benefits, and at the age of 85 will have received $3,984,528.
Fifth District Appellate Court Judge Gordon Maag receives an annual benefit of $111,084. He served 17.92 years on the bench, and at age 55, was not retained by voters in November 2004. He contributed $232,112 into JRS, and his contribution of lifetime benefits is estimated at 5.9 percent.
He was paid $163,070 annually at the time he left office.
Maag has so far received $947,139 in retirement benefits, and at the age of 85 will have received $3,931,995.
Recently reitred St. Clair County Associate Judge Ellen Dauber began receiving benefits at the beginning of this year. She will receive $154,037 annually. She served 25.42 years on the bench and retired at age 55. She contributed $282,290 into JRS, and her contribution of lifetime benefits is estimated at 3.8 percent.
Her annual salary when she retired was $181,212.
Dauber has so far received $12,836. At the age of 85 she will have received $7,341,213.
Former Madison County Associate Judge Duane Bailey began receiving benefits last July, after his term expired and he was not re-appointed. He receives $73,264 annually. He served 8.33 years on the bench and was 59 years old when he left. Bailey contributed $118,698 into JRS, and his contribution of lifetime benefits is estimated at 4.4 percent.
His rate of pay when he left office was $177,667.
Bailey has so far received $42,737. At the age of 85, he will have received $2,713,879.
In TUA’s press release issued Monday, it also found:
· Total number of JRS pension beneficiaries is approximately 1,121.
· 751, or 67 percent, collect pensions in excess of $100,000.
· 1,011, or 90 percent of retired judges, collect pensions in excess of $50,000.
· The average JRS pension is $117,473.
· The average age of retirement is 62.
· In fiscal year 2015, taxpayer contributions to the fund were $134,039,684 or 90 percent of total contributions.
· In fiscal year 2015, judges’ contribution to their own pension fund was $15,431,105.
· The net investment return was only 5.1 percent or $36,009,150.
· As of the end of fiscal year 2015, JRS had a 35.4 percent funded ratio with a $1.5 billion unfunded liability.
Tobin stated that the JRS pension system is “ripe with conflicts of interest and corruption and it is protected at every level of a government that chooses to serve itself rather than the constituents it was intended to protect.”
He said the JRS “has been stealing taxpayer wealth since 1941.”
Tobin blames Democrat House Speaker Michael Madigan,
“The ever powerful boss Madigan has supported and promoted the passage of legislation to make these government pensions so very lucrative,” he said.
“It’s past time for the elite ‘ruling class’ to do what is right for taxpayers and to quit padding their bank accounts with the sweat of the working-class. It’s time for boss Madigan and these judges to make government pension reform a reality.”

Reboot Illinois|Top 25 legislators receiving the biggest Illinois pensions

By temp-admin on February 22, 2016 / Illinois Press, Latest, Pension Reform, Press

Taxpayers United of America’s recent data release of an updated list of lawmaker pensions in the General Assembly Retirement System was used by Reboot Illinois.

Which retired state lawmakers have the biggest Illinois pensions?
Taxpayers United of America, an organization that advocates for tax relief and “fighting government pensions,” has released an updated list of lawmaker pensions in the General Assembly Retirement System.
At the end of fiscal year 2015, the pension fund had a funded ratio of 16.4 percent — the lowest of the state’s five retirement systems — and $278.8 million in unfunded liabilities. Here are some more fast facts from the 2015 comprehensive annual financial report:
Average member salary: $89,241
Active members: 145
Active retirees: 309
Total active beneficiaries (including survivors): 424
Required employee contribution rate: 11.5 percent
Participant contributions: $1.49 million
Employer contributions: $15.87 million
Total participant contributions as percent of total contributions revenue: 8.6 percent
Average age at retirement: 60
Average pension: $58,644
Average length of service: 13.4 years
Following is a list of the Top 25 legislators who are receiving the biggest annual pension payouts as of Jan. 27, 2016.
*TUA’s calculation for estimated lifetime pension payout assumes a life expectancy of 85 (IRS Form 590) and the 3 percent compounded cost-of-living adjustment.

25. Rep. Ralph Capparelli (D-Chicago)

Annual Pension: $123,282
Member Contributions: $160,576
Age at Retirement: 80
Pension Collected to Date: $1.13 million
Estimated Lifetime Pension Payout: $1.13 million*
Percent Contributed to Lifetime Payout: 14.2%

24. Rep. Arthur L. Turner (D-Chicago)

Annual Pension: $123,420
Member Contributions: $189,941
Age at Retirement: 60
Pension Collected to Date: $563,976
Estimated Lifetime Pension Payout: $3.66 million*
Percent Contributed to Lifetime Payout: 5.2%

23. Rep. Chuck Hartke, director, Illinois Department of Agriculture (D-Teutopolis)

Annual Pension: $123,432
Member Contributions: $112,308
Age at Retirement: 63
Pension Collected to Date: $874,473
Estimated Lifetime Pension Payout: $2.98 million*
Percent Contributed to Lifetime Payout: 3.8%

22. Rep. William T. Ryder (R-Jerseyville)

Annual Pension: $123,930
Member Contributions: $138,330
Age at Retirement: 55
Pension Collected to Date: $1.25 million
Estimated Lifetime Pension Payout: $4.15 million*
Percent Contributed to Lifetime Payout: 3.3%

21. Rep. Kurt Granberg (D-Carlyle)

Annual Pension: $125,738
Member Contributions: $121,757
Age at Retirement: 55
Pension Collected to Date: $800,358
Estimated Lifetime Pension Payout: $4.88 million*
Percent Contributed to Lifetime Payout: 2.5%

20. Rep. Samuel McGrew (D-Galesburg)

Source: SlidePlayer
Annual Pension: $127,992
Member Contributions: $76,963
Age at Retirement: 55
Pension Collected to Date: $1.53 million
Estimated Lifetime Pension Payout: $3.92 million*
Percent Contributed to Lifetime Payout: 2.0%

19. Rep. Lee Daniels, former House Speaker from 1995-1997 (R-Elmhurst)

Annual Pension: $128,161
Member Contributions: $181,640
Age at Retirement: 64
Pension Collected to Date: $988,156
Estimated Lifetime Pension Payout: $2.81 million*
Percent Contributed to Lifetime Payout: 6.5%

18. Rep. Robert Molaro (D-Chicago)

Annual Pension: $129,924
Member Contributions: $109,860
Age at Retirement: 58
Pension Collected to Date: $818,708
Estimated Lifetime Pension Payout: $4.31 million*
Percent Contributed to Lifetime Payout: 2.5%

17. Sen. Timothy Degnan, former adviser to Richard M. Daley (D-Chicago)

Annual Pension: $130,014
Member Contributions: $85,291
Age at Retirement: 55
Pension Collected to Date: $2.0 million
Estimated Lifetime Pension Payout: $3.32 million*
Percent Contributed to Lifetime Payout: 2.6%

16. Sen. Richard M. Daley, former Cook County state’s attorney and mayor of Chicago (D-Chicago)

Annual Pension: $132,393
Member Contributions: $88,434
Age at Retirement: 69
Pension Collected to Date: $583,892
Estimated Lifetime Pension Payout: $2.28 million*
Percent Contributed to Lifetime Payout: 3.9%

15. Sen. Doris Karpiel (R-Carol Stream)

Annual Pension: $132,428
Member Contributions: $95,999
Age at Retirement: 68
Pension Collected to Date: $1.32 million
Estimated Lifetime Pension Payout: $2.02 million*
Percent Contributed to Lifetime Payout: 4.7%

14. Sen. Dan Rutherford, former state treasurer (R-Chenoa)

Annual Pension: $132,616
Member Contributions: $173,209
Age at Retirement: 59
Pension Collected to Date: $122,650
Estimated Lifetime Pension Payout: $4.96 million*
Percent Contributed to Lifetime Payout: 3.5%

13. Gov. Pat Quinn (D)

Annual Pension: $133,168
Member Contributions: $197,925
Age at Retirement: 66
Pension Collected to Date: $136,216
Estimated Lifetime Pension Payout: $3.25 million*
Percent Contributed to Lifetime Payout: 6.1%

12. Sen. Carl Hawkinson (R-Galesburg)

Annual Pension: $135,366
Member Contributions: $136,036
Age at Retirement: 58
Pension Collected to Date: $1.16 million
Estimated Lifetime Pension Payout: $4.11 million*
Percent Contributed to Lifetime Payout: 3.3%

11. Rep. Thomas Homer (D-Canton)

Annual Pension: $137,276
Member Contributions: $78,093
Age at Retirement: 55
Pension Collected to Date: $1.47 million
Estimated Lifetime Pension Payout: $4.24 million*
Percent Contributed to Lifetime Payout: 1.8%

10. Sen. Emil Jones, Jr. (D-Chicago)

Annual Pension: $146,073
Member Contributions: $206,924
Age at Retirement: 73
Pension Collected to Date: $884,497
Estimated Lifetime Pension Payout: $1.66 million*
Percent Contributed to Lifetime Payout: 12.5%

9. Sen. James “Pate” Philip (R-Addison)

Annual Pension: $146,782
Member Contributions: $330,125
Age at Retirement: 72
Pension Collected to Date: $1.52 million
Estimated Lifetime Pension Payout: $1.52 million*
Percent Contributed to Lifetime Payout: 21.7%

8. Gov. James Thompson (R)

Annual Pension: $147,477
Member Contributions: $84,996
Age at Retirement: 55
Pension Collected to Date: $2.59 million
Estimated Lifetime Pension Payout: $3.38 million*
Percent Contributed to Lifetime Payout: 2.5%

7. Roland Burris, former Illinois attorney general, comptroller and U.S. senator (D)

Annual Pension: $149,734
Member Contributions: $134,680
Age at Retirement: 57
Pension Collected to Date: $2.31 million
Estimated Lifetime Pension Payout: $3.46 million*
Percent Contributed to Lifetime Payout: 3.9%

6. Rep. Gary Hannig (D-Litchfield)

Annual Pension: $150,967
Member Contributions: $176,273
Age at Retirement: 58
Pension Collected to Date: $628,808
Estimated Lifetime Pension Payout: $5.24 million*
Percent Contributed to Lifetime Payout: 3.4%

5. Gov. Jim Edgar (R)

Annual Pension: $156,331
Member Contributions: $164,657
Age at Retirement: 55
Pension Collected to Date: $1.85 million
Estimated Lifetime Pension Payout: $4.75 million*
Percent Contributed to Lifetime Payout: 3.5%

4. Sen. John Friedland (R-South Elgin)

Annual Pension: $163,051
Member Contributions: $66,716
Age at Retirement: 55
Pension Collected to Date: $2.64 million
Estimated Lifetime Pension Payout: $3.89 million*
Percent Contributed to Lifetime Payout: 1.7%

3. Rep. Judy Erwin (D-Chicago)

Judy Erwin
Annual Pension: $164,010
Member Contributions: $238,038
Age at Retirement: 60
Pension Collected to Date: $818,027
Estimated Lifetime Pension Payout: $4.94 million*
Percent Contributed to Lifetime Payout: 4.8%

2. Sen. Edward Petka (R-Plainfield)

Annual Pension: $186,968
Member Contributions: $171,449
Age at Retirement: 66
Pension Collected to Date: $1.03 million
Estimated Lifetime Pension Payout: $3.68 million*
Percent Contributed to Lifetime Payout: 4.7%

1. Sen. Arthur L. Berman (D-Chicago)

Annual Pension: $235,829
Member Contributions: $109,293
Age at Retirement: 66
Pension Collected to Date: $2.68 million
Estimated Lifetime Pension Payout: $3.67 million*
Percent Contributed to Lifetime Payout: 3.0%
You can see Taxpayers United of America’s complete list and analysis here.

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