America’s War on Poverty has been an abject failure. Nearly $12 trillion and 60 years later, official poverty rates remain basically unchanged. While the nation waged a well-intentioned assault on poverty, it inadvertently launched a far more sinister war: on dignity. While attempting to eradicate poverty, America created countless government welfare programs. In doing so,...View Report
Consolidating downstate and suburban police and fire pension systems is a start, but both fixes and Illinois’ pension problems go much deeper.
The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.
Large pension payouts in the face of flat incomes for taxpayers raise questions of fairness.
Despite regional struggles and a shrinking population, taxpayers in southern Illinois have been saddled with rapidly growing pension costs.
More than a dozen city and park district retirees in Highland Park have received more than $1 million in pension benefits each.
Among the 23 former city of Springfield employees who retired at age 50, five have accumulated more than $1 million in pension benefits.
Active Des Plaines Park District pensioners – including two pension millionaires – have put taxpayers on the hook for more than $7.6 million in pension payouts since 1996.
Lake County residents pay some of the highest property taxes in the nation – a burden driven by the growth in pension costs over the last 20 years.
Less than 50 cents of every additional property tax dollar over the last 20 years went to pay for services that raise home values. Instead, the primary driver of the rise in property taxes was pension costs.
Despite serving one of the most overtaxed parts of the state, a retired Kane County-area water district employee has collected millions in pension payouts over the past 20 years.