GLEN ELLYN–A new report by pension researcher Bill Zettler reveals that DuPage County retired government employees receive lavish, gold-plated pensions that far exceed actual wages of workers in the private sector.
“These government-employee pensions are bankrupting the state pension funds,” said Jim Tobin, President of National Taxpayers United of Illinois (NTUI). “That’s the real reason Gov. Patrick Quinn (D) wants to raise the state personal income tax up to 67%. He wants to pump taxpayer dollars into the state’s floundering pension programs.”
Jim Tobin addresses DuPage County press at a press conference held on December 8, 2010.
“Those receiving the largest annual pensions are retired government-school educators,” said Tobin. “DuPage County’s retired public school teachers in the Teachers Retirement System (TRS) are really raking it in. The largest annual TRS pension goes to Gary Catalani, whose annual pension is $237,195 — $19,766 a month. The second-highest TRS annual pension goes to Mary Curley, who received $226,645 a year. That’s $18,887 a month.”
“The largest pension in DuPage County’s top 100 College of DuPage pensions goes to Harold McAninch, who received an annual pension of $168,051. That’s a monthly pension of $14,004. Number two in the top 100 list of largest pensions is Thomas Ryan, who received an annual pension of $152,825. That’s a monthly pension of $12,735.”
“With a median household income of $77,000 and a median housing value of $195,000, DuPage County residents are stagnating, while some of these retired government employees are well on their way to becoming pension millionaires.”
“These retired government employees are sucking the system dry. But there is no need to raise the state income tax or cut government services. Three crucial reforms can save the system and spare Illinois taxpayers.”
“New government hires should be required to fund their own retirements with 401(k) plans. Ending pensions for new government hires will eventually eliminate unfunded government pensions.
“In Illinois, if each current state pension fund employee were required to contribute an additional 10% to his or her pension, taxpayers would save over $150 billion over the next 35 years.”
“Requiring Illinois public employees to pay for one-half of their health care premiums would save even more – an estimated $230 billion over current projections.”