Madigan begins collecting $7,093-a-month public pension

By Brad Weisenstein

04/06/2021

Former Illinois House Speaker Michael Madigan will collect $85,000 a year, but in a little more than a year his pension will shoot up to nearly $150,000 a year.

TAGS: GARS: General Assembly Retirement System, Mike Madigan, pensions

Bill would stop Illinois lawmakers from getting public pensions

By Brad Weisenstein

03/09/2021

State lawmakers have significantly abused and underfunded their own pension system. Ending it would be a plus, but only a constitutional amendment will stop pension debt from swallowing Illinois.

TAGS: Dave Vella, GARS: General Assembly Retirement System, John Cabello, Mike Madigan, pensions

62 former state lawmakers receiving more than $100K pensions

06/05/2020

Illinois’ broken pension system puts $100,000 a year or more into the hands of 62 former state lawmakers. It has paid more than $1 million to 94 of them.

TAGS: Arthur L. Berman, Barbara Flynn Currie, GARS: General Assembly Retirement System, Jim Edgar, lawmaker pay, Lou Lang, Pat Quinn, pensions

Illinois pensions 101: Paltry contributions yield million-dollar payouts

01/17/2020

Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.

TAGS: Edgar Ramp, firefighter pensions, GARS: General Assembly Retirement System, government employees, government services, government unions, government workers, IEA-NEA: Illinois Education Association, IFT: Illinois Federation of Teachers, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, Jim Edgar, JRS: Judges’ Retirement System, municipal government, municipal pensions, pension guarantee, pensions, police pensions, public sector, retirement age, Rod Blagojevich, SERS: State Employee Retirement System, Social Security, social services, Springfield, SURS: State Universities Retirement System, tax hikes, tax increase, TRS: Teachers’ Retirement System

Senate President John Cullerton announces retirement amid sweeping Illinois corruption probe

By Austin Berg

11/14/2019

Cullerton and House Speaker Mike Madigan have held office in the Illinois General Assembly for nearly 90 years combined.

TAGS: corruption, FBI: Federal Bureau of Investigation, federal, GARS: General Assembly Retirement System, ILGA: Illinois General Assembly, Illinois House of Representatives, Illinois Senate, investigation, John Cullerton, pension spiking, pensions, Springfield

Illinois state and local governments spend most in nation on pensions

02/22/2019

According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

56 Illinois state lawmakers have refused to take a pension

02/08/2019

Illinois’ 101st General Assembly can be leaders in pension reform by passing a constitutional amendment that allows for changes to future, unearned benefits.

TAGS: 401(k), GARS: General Assembly Retirement System, lawmaker pay, pension guarantee, pensions, taxes

More than 19,000 Illinois government retirees receive pensions over $100K

By Janelle Cammenga

11/21/2018

The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.

TAGS: GARS: General Assembly Retirement System, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

58 former Illinois state lawmakers collecting six-figure pensions

11/06/2018

Former lawmakers receive generous benefits from the state’s worst-run retirement fund.

TAGS: Arthur L. Berman, COLA: cost of living adjustment, GARS: General Assembly Retirement System, Jim Edgar, lawmaker pay, pensions

Pension reform for Illinois is essential, not impossible

08/24/2018

Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.

TAGS: GARS: General Assembly Retirement System, Illinois Constitution, municipal pensions, pensions, property taxes, TRS: Teachers’ Retirement System