New 67% State Income Tax Hike To Fund Lake County Retired Government Employee Pension Millionaires
LAKE COUNTY–A new report by the Illinois Taxpayers Education Foundation reveals that many Lake County retired government employees receive lavish, gold-plated pensions that far exceed average annual wages of workers in the private sector.
“These outrageous government-employee pensions are bankrupting the state pension funds,” said Jim Tobin, President of National Taxpayers United of Illinois (NTUI). “Gov. Patrick Quinn (D) just raised the state personal income tax 67% to pump taxpayer dollars into the state’s floundering pension programs.”
“Those receiving the largest annual pensions are retired government-school educators,” said Tobin. “Lake County’s retired public school teachers in the Teachers Retirement System (TRS) are really raking it in. The largest annual TRS pension goes to Maureen Hager, formerly of North Shore SD 112, whose annual pension is $231,702 — $19,308 a month. James Hintz, formerly of Adlai Stevenson HSD 125, receives a monthly pension of $16,787, making his annual pension $201,444. Dennis R. Conti, formerly of Woodland CCSD 50, receives an annual pension of $200,277, that comes out to $16,689 a month.”
“Retired Lake County Community College teachers are doing very well. The top annual pension goes to Russell Peterson, who received $191,154 — $15,929 a month. Peter Krupczak received $186,570 — $15,547 a month. And Gretchen Naff receives $15,302 a month, bringing her annual pension to $183,625.”
“These retired government employees are sucking the system dry. But there is no need to raise the state income tax or cut government services. Three crucial reforms can save the system and spare Illinois taxpayers. First, new government hires should be required to fund their own retirements with 401(k) plans. Ending pensions for new government hires will eventually eliminate unfunded government pensions.”
“Second, in Illinois, if each current state pension fund employee were required to contribute an additional 10% to his or her pension, taxpayers would save over $150 billion over the next 35 years. And finally, requiring Illinois public employees to pay for one-half of their health care premiums would save even more – an estimated $230 billion over current projections.”