Madigan begins collecting $7,093-a-month public pension

By Brad Weisenstein

04/06/2021

Former Illinois House Speaker Michael Madigan will collect $85,000 a year, but in a little more than a year his pension will shoot up to nearly $150,000 a year.

TAGS: GARS: General Assembly Retirement System, Mike Madigan, pensions

Bill would stop Illinois lawmakers from getting public pensions

By Brad Weisenstein

03/09/2021

State lawmakers have significantly abused and underfunded their own pension system. Ending it would be a plus, but only a constitutional amendment will stop pension debt from swallowing Illinois.

TAGS: Dave Vella, GARS: General Assembly Retirement System, John Cabello, Mike Madigan, pensions

62 former state lawmakers receiving more than $100K pensions

06/05/2020

Illinois’ broken pension system puts $100,000 a year or more into the hands of 62 former state lawmakers. It has paid more than $1 million to 94 of them.

TAGS: Arthur L. Berman, Barbara Flynn Currie, GARS: General Assembly Retirement System, Jim Edgar, lawmaker pay, Lou Lang, Pat Quinn, pensions

Illinois pensions 101: Paltry contributions yield million-dollar payouts

By Adam Schuster

01/17/2020

Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.

TAGS: Edgar Ramp, firefighter pensions, GARS: General Assembly Retirement System, government employees, government services, government unions, government workers, IEA-NEA: Illinois Education Association, IFT: Illinois Federation of Teachers, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, Jim Edgar, JRS: Judges’ Retirement System, municipal government, municipal pensions, pension guarantee, pensions, police pensions, public sector, retirement age, Rod Blagojevich, SERS: State Employee Retirement System, Social Security, social services, Springfield, SURS: State Universities Retirement System, tax hikes, tax increase, TRS: Teachers’ Retirement System

Senate President John Cullerton announces retirement amid sweeping Illinois corruption probe

By Austin Berg

11/14/2019

Cullerton and House Speaker Mike Madigan have held office in the Illinois General Assembly for nearly 90 years combined.

TAGS: corruption, FBI: Federal Bureau of Investigation, federal, GARS: General Assembly Retirement System, ILGA: Illinois General Assembly, Illinois House of Representatives, Illinois Senate, investigation, John Cullerton, pension spiking, pensions, Springfield

Illinois state and local governments spend most in nation on pensions

By Adam Schuster

02/22/2019

According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

56 Illinois state lawmakers have refused to take a pension

02/08/2019

Illinois’ 101st General Assembly can be leaders in pension reform by passing a constitutional amendment that allows for changes to future, unearned benefits.

TAGS: 401(k), GARS: General Assembly Retirement System, lawmaker pay, pension guarantee, pensions, taxes

More than 19,000 Illinois government retirees receive pensions over $100K

By Janelle Cammenga

11/21/2018

The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.

TAGS: GARS: General Assembly Retirement System, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

58 former Illinois state lawmakers collecting six-figure pensions

11/06/2018

Former lawmakers receive generous benefits from the state’s worst-run retirement fund.

TAGS: Arthur L. Berman, COLA: cost of living adjustment, GARS: General Assembly Retirement System, Jim Edgar, lawmaker pay, pensions

Pension reform for Illinois is essential, not impossible

By Adam Schuster

08/24/2018

Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.

TAGS: GARS: General Assembly Retirement System, Illinois Constitution, municipal pensions, pensions, property taxes, TRS: Teachers’ Retirement System