Illinois should take steps toward more accurate and frequent property assessments to ensure the tax burden is distributed as fairly as possible.View Report
Tim Mapes is also in line for a six-figure pension.
House Bill 5760 would stop lawmakers’ scheduled cost-of-living adjustment. Illinois lawmakers are the fifth-highest paid state lawmakers in the nation.
A post-mortem on Illinois’ 2017 regular legislative session shows missed opportunities for taxpayer savings.
After just one year of retirement, Madigan’s annual pension will shoot up to more than $130,000.
Former U.S. House of Representatives Speaker Dennis Hastert had been receiving nearly $30,000 annually from the underfunded General Assembly Retirement System.
Nearly 38 percent of Illinois Teachers Retirement System assets are in so-called alternative investments.
In 2010, the unfunded debt related to pensions and retiree health care costs for local and state government workers across Illinois was $203 billion, the equivalent of more than $43,000 per household. In just six years, the total debt Illinois households are on the hook for has jumped to $56,000, or 31 percent. That’s a $13,000 increase for each household. Total unfunded debt for state and local governments in Illinois now totals $267 billion.
Illinois households are now on the hook for $27,000, up 17 percent from 2015.
Despite being sentenced to 15 months in prison for a financial crime intended to cover up his sexual abuse of high school students, former U.S. House Speaker Dennis Hastert will continue to receive $28,000 annual pension payments for his six years as an Illinois state representative.
Former Gov. Pat Quinn contributed less than $200,000 to his retirement, but is set to draw more than $2 million in pension benefits over his lifetime.