By: Mark Glennon*

 

Cynical as we are on this site, I confess to being stunned by some of the numbers about municipal salaries and pensions in The ‘Big Dogs’ Of Illinois Municipal Government in Forbes this week.

 

Read every word of it.

 

Rank and file county employees making over $300,000 per year. A school treasurer/administrator who double dipped the Teacher’s Retirement System and the Illinois Municipal pensions for a combined 2014 income of over $485,000. Small town mayors making over $200,000 per year. Spikers, double dippers and just plain pigs, all gone wild.

 

Worst of all, public union officials making over $300,000 per year, but taxpayers must fund the pensions based on those salaries. “Special legislation ‘muscled’ them into the government pension systems.  Taxpayers have no control over the amount of annual salary awarded, but it’s the salaries that drive the lifetime pensions.”

 

Salute to Adam Andrzejewski, Forbes contributor and founder of For the Good of Illinois, who wrote the article.

 

Why aren’t these numbers screaming in headlines of every paper across the state? Come on, media. It’s not like you’d have to do any work. Just link to the Forbes article or cite it.

 

*Mark Glennon is founder of WirePoints

 

 

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Mike
Big salaries mean big pensions. Most municipal employees are in the IMRF pension fund, so will receive their pension plus Social Security. The employee contribution to IMRF is 4.5%, exceptions noted below. The employee contribution to Social Security is 6.2%. So the total employee contribution is 4.5% + 6.2% = 10.7%. The IMRF employer contribution varies every year, varies by employer, and is typically 2-3x the employee contribution. The employer learns of their exact contribution % in a letter sent by IMRF to the employer titled, “Final Notice of Illinois Municipal Retirement Fund Contribution Rate for Calendar Year xxxx.” The IMRF payout is much higher than the… Read more »
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