Chicago Mayor Brandon Johnson’s pensions are worth an estimated $3.8 million after only four years as a teacher and one term as mayor. It could go even higher, depending on his next job moves.
Illinois is on an upward path, Illinois Gov. J.B. Pritzker said during his State of the State speech. True, by some measures. Not so much by too many measures that matter.
Mayoral candidate and Chicago Teachers Union organizer Brandon Johnson is eligible to collect an estimated $1.1 million pension through the Chicago Teachers’ Pension Fund despite only teaching for four years. His future path could yield a public pension worth over $2.8 million.
All 11 major industries in Illinois were among the worst in the nation for job growth from January 2019 to January 2023, with each of them ranking in the bottom half in the nation.
The typical career state worker collected $82,478 in annual pension benefits, recouping more income in 17 months of retirement than they contributed over 35 years. Working Illinoisans only earned $59,650 a year.
Truth in Accounting experts contested Gov. J.B. Pritzker’s claims Illinois is on the best fiscal footing in years, citing chronic underfunding of the state’s nation-leading pension debt. The watchdogs ranked Illinois’ finances third worst among U.S. states.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...