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New numbers show that the 7,499 ‘highly compensated,’ six-figure school administrator/teacher retirees cost IL taxpayers nearly $1 billion per year. But in just six years, the problem of six-figure pensions will be four-times worse.

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Note the article does not include many of the Illinois pension systems, such as Downstate Police, Downstate Fire, Chicago Police, Chicago Fire, Chicago MEABF, Chicago LABF, CTA, RTA / METRA / PACE, Chicago Park District, and probably others. The pensions are a scam. Unfunded or underfunded benefit hikes to almost always underfunded pension systems were enacted by state legislators and Governors after the pension sentence was added to the Illinois State Constitution in 1970. That occurred almost every year since 1970. The second part of the scam was repeatedly hiking salaries, typically via collective bargaining agreements and administrator contracts, enabled in great part by money availabe from… Read more »