Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...View Report
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.
Voted out of office in 2017 amid allegations of patronage and waste, Algonquin Township’s former highway commissioner has since found work at neighboring townships – while collecting a handsome pension from his former employer.
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.