Rockford Pensioners Collect Millions Amid Unemployment Crisis

Jim Tobin
Jim Tobin

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TUA in the News!
Story covered by CBS Channel 23 News Rockford.

Rockford- “Rockford area property taxes have been some of the highest in the country in recent years. Property taxes pay for the local government pensions and state law requires those pensions to be paid before any other commitments. No matter how many private sector workers lose their jobs, government retirees continue to collect their gold-plated pensions,” said Jim Tobin, economist and president of Taxpayers United of America (TUA).

“While the local pensions of the Illinois Municipal Retirement Fund (IMRF) are paid by property taxes, the remaining five state pension funds are subsidized with the Illinois state income-tax.” 

“In order to fund pensions of the 148,654 pensioners who will collect more than a million dollars in pension payments, Democrat Gov. Jay Robert ‘J. B.’Pritzkeris seeking to hoodwink voters into passing constitutional amendment that that ushers in massive state income-tax increases.”

“Pritzker’s incometheft amendment will be on the November 3, 2020 ballot. If passed, this taxpayer theftwill hit the middle-class the hardest. Between the mass exodus of Illinois residents to more tax-friendly states and the huge loss of jobs and income from Pritzker’s Soviet style lockdown, Illinois’ middle-class will virtually disappear.”

“As many of us have been struggling without a paycheck, or watching businesses disintegrate, here’s what a few of the political elite in Winnebago County collected without a concern of what is to come:

Alan S. Brown retired from Rockford SD205 at the age of 55. His current annual pension is $188,828, an increase of about $5,000 over last year. With his 3% compounded COLA, he will realize about $5,353,244 over a normal lifetime. His personal investment in that stunning payout is only about 3%.

Paul A. Logli retired from Winnebago County government with a current annual pension of $172,197. His raise this year was about $3,700 and he will collect about $4,966,168 in estimated lifetime pension payments. Paul is also eligible for a social security pension. 

Karl Jacobs, Rock Valley College retiree, collects $184,970 a year from the State University Retirement System (SURS). His estimated lifetime payout is $2,968,762. He only had to invest $159,281 of his own money in that payout.”

“Illinois government employees only work 20.1 years on average in order to collect these unrealistic pensions. And for every dollar they deposit in their own pension fund, taxpayers are forced to fork over $4.74. Add to that a 3% COLA, compounded for all but IMRF, and it doesn’t take a genius to understand why Illinois’ government pensions are insolvent.”

“Rather than put an income theft amendment on the November 3rd ballot, Pritzker should have pushed for a pension reform amendment because these outrageous pensions are protected by the state constitution. 

View Top Rockford IMRF Pensions
View Top Rockford SURS Pensions
View Top Rockford TRS Pensions

PRITZKER SOVIET-STYLE LOCKDOWN PUT ILLINOISANS AT GREAT MEDICAL RISK

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Yesterday, Illinois Governor Jay Robert “J. B.” Pritzker announced from the economic rubble of his once prosperous state, that he would move forward with “phase 4” of his soviet style lockdown.

“Not only is Pritzker delaying the economic recovery of the state, but his actions have put Illinoisans at risk and may be causing many deaths of his constituents,” said James L. Tobin, economist and president of Taxpayers United of Illinois (TUA).

According to Scott W. Atlas M.D., a physician and senior fellow at Stanford University’s Hoover Institution, lockdown policies have created the greatest global economic disruption in history, with trillions of dollars of lost economic output. “The cure is bigger than the disease at this point,” said Atlas. “150,000 new patients with cancer are diagnosed every single month in the United States. Most of them are not getting diagnosed.”

Stanford epidemiologist John P.A. Ioannidis states, “We lack reliable evidence on how many people have been infected with SARS-CoV-2 or who continue to become infected. Better information is needed to guide decisions and actions of monumental significance and to monitor their impact.”

“Three months after the outbreak emerged, most countries, including the U.S., lack the ability to test a large number of people and no countries have reliable data on the prevalence of the virus in a representative random sample of the general population,” wrote Ioannidis.

“In the absence of data, prepare-for-the-worst reasoning leads to extreme measures of social distancing and lockdowns. Unfortunately, we do not know if these measures work. School closures, for example, may reduce transmission rates. But they may also backfire if children socialize anyhow, if school closure leads children to spend more time with susceptible elderly family members, if children at home disrupt their parents’ ability to work, and more. School closures may also diminish the chances of developing herd immunity in an age group that is spared serious disease.”

Ioannidis warns, “One of the bottom lines is that we don’t know how long social distancing measures and lockdowns can be maintained without major consequences to the economy, society, and mental health. Unpredictable evolutions may ensue, including financial crisis, unrest, civil strife, war, and a meltdown of the social fabric. At a minimum, we need unbiased prevalence and incidence data for the evolving infectious load to guide decision-making.”

John P.A. Ioannidis is professor of medicine and professor of epidemiology and population health, as well as professor by courtesy of biomedical data science at Stanford University School of Medicine, professor by courtesy of statistics at Stanford University School of Humanities and Sciences, and co-director of the Meta-Research Innovation Center at Stanford (METRICS) at Stanford University.

STATE PENSIONS FATTEN WALLETS OF RETIRED ILLINOIS POLITICIANS

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Top 200 GARS Pensions

Retired Illinois politicians have become pension millionaires and are getting richer by the day, while Illinois taxpayers lose their jobs, get behind on their mortgages and have trouble paying their bills, according to the most recent study of state pensions by the Taxpayer Education Foundation (TEF).

“These bloodsuckers that raised state taxes billions of dollars, and then retired, are getting lavish, gold-plated pensions and benefits,” said James L. Tobin, economist and TEF president. “Their functionally-bankrupt state pension plan, the General Assembly Retirement System (GARS), like the other state pension plans, has been kept on life-support with billion-dollar increases in the state income tax.”

“Thanks to the tax increases that many of these reprobates voted for, the state is economically dying and has lost population six years in a row.”

For 2019 and 2020, two GARS pensions exceed $200,000. From 2019 to 2020, the number of pensions exceeding $100,000 has gone from 62 to 71, and the number exceeding $50,000 has gone from 218 to 221.

The highest annual pension, $265,428, goes to retired legislator Arthur L. Berman (D), the author of the failed Berman Tax Increase Amendment, which we helped defeat years ago. Berman’s total pension paid to date is $3,670,815.

A central figure responsible for much of the pension crisis is former governor James R. Thompson (R), one of the worst tax-raisers in Illinois history. Thompson currently receives an annual pension of $165,987. He has received a total pension to date of $3,219,842. His estimated lifetime pension payout is $3,385,829.

Former governor, Patrick J. Quinn Jr. (D), the so-called “reform” governor, currently receives an annual pension of $149,882. He has received a total pension to date of $694,733. His estimated lifetime pension payout is $3,255,658.

Former legislator and governor, James R. Edgar (R), receives a current annual pension of $175,952. He has received a total pension to date of $2,502,093, and his estimated lifetime pension payout is $4,755,649.

Edgar signed into law Senate Bill 3 in 1998, the biggest government pension increase in the history of Illinois. SB3 gave retired government teachers 75% of their salary at retirement, with annual compounded increases of 3 percent. SB3 will cost taxpayers $4.5 billion in 2020, which is 12% of the Illinois state budget!

The taxes to support these outrageous Illinois government pensions are driving taxpayers out of Illinois. Almost all of the last $5 billion-dollar state income tax increase was used to prop up the state pension funds. This is why Illinois governor Jay Robert “J. B.” Pritzker (D) wants to pass his Nov. 3. 2020 Income Theft Amendment, a massive state income tax increase for Illinois taxpayers. Instead of seeking pension reform, Pritzker wants another massive income tax hike.

Pritzker is destroying the Illinois economy. He wants to place more taxes on the backs of the state’s taxpayers, while he stubbornly enforces the Soviet-style state shutdown. Pritzker should explore significant reforms to the state’s bankrupt pension plans for retired government employees. He wasn’t elected to declare war on the state’s middle class.