September 8th, 2020
New 67% State Income Tax Hike to Fund McHenry County Retired Government Employee Pension Millionaires
CRYSTAL LAKE–A new report by pension researcher Bill Zettler reveals that many McHenry County retired government employees receive lavish, gold-plated pensions that far exceed average annual wages of workers in the private sector.
“These 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.”
Jim Tobin speaks about McHenry County’s sky-high pensions at McHenry County College on Wednesday, January 12, 2011.
“Those receiving the largest annual pensions are retired government-school educators,” said Tobin. “McHenry County’s retired public school teachers in the Teachers Retirement System (TRS) are really raking it in. The largest annual TRS pension goes to Joseph M. Saban, formerly of Community HSD 155, whose annual pension is $168,122 — $14,010 a month. Paul R. Baker, formerly of Community HSD 155, already has received a total pension payout of $1,457,293, in addition to his annual pension of $119,101. Robert D. Cryer, also formerly of Community HSD 155, already has received a total pension payout of $1,455,399, in addition to his annual pension of $128,314.”
“Retired McHenry College teachers are doing very well. The top annual pension goes to Carol Chandler, who received $105,113 — $8,759 a month. Mary Messling received $96,024 — $8,002 a month. And former McHenry College teacher John Adelmann already has received $735,591 in total pension payments.”
“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.”