Plan for over 640 police, fire pensions barely touches Illinois’ $200B problem

10/15/2019

Consolidating downstate and suburban police and fire pension systems is a start, but both fixes and Illinois’ pension problems go much deeper.

TAGS: IMRF: Illinois Municipal Retirement Fund, JB Pritzker, municipal pensions, pension guarantee, pensions, property taxes, 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

6 former library employees have taken home over $1M in pension benefits

By Austin Berg

10/02/2018

Large pension payouts in the face of flat incomes for taxpayers raise questions of fairness.

TAGS: IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, taxes

Southern Illinois municipal pensioners have collected more than $500M in benefits over last 20 years

09/25/2018

Despite regional struggles and a shrinking population, taxpayers in southern Illinois have been saddled with rapidly growing pension costs.

TAGS: IMRF: Illinois Municipal Retirement Fund, Jackson County, Jefferson County, Massac County, municipal pensions, pension guarantee, pensions, Perry County, property taxes, Randolph County, Williamson County

Play money: Former Park District of Highland Park employees taking home 6-figure pensions

By Austin Berg

08/16/2018

More than a dozen city and park district retirees in Highland Park have received more than $1 million in pension benefits each.

TAGS: 401(k), Highland Park, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pensions, property taxes, taxes

Retiring as early as age 50, Springfield municipal pensioners bank over $1M

08/13/2018

Among the 23 former city of Springfield employees who retired at age 50, five have accumulated more than $1 million in pension benefits.

TAGS: IMRF: Illinois Municipal Retirement Fund, municipal pensions, pensions, property taxes, Springfield

Pair of Des Plaines park district retirees have taken home $1M each in pension benefits

08/07/2018

Active Des Plaines Park District pensioners – including two pension millionaires – have put taxpayers on the hook for more than $7.6 million in pension payouts since 1996.

TAGS: Des Plaines, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pensions, property taxes, taxes

Nearly 100 Lake County municipal retirees are pension millionaires

By Austin Berg

08/07/2018

Lake County residents pay some of the highest property taxes in the nation – a burden driven by the growth in pension costs over the last 20 years.

TAGS: 401(k), IMRF: Illinois Municipal Retirement Fund, Lake County, municipal pensions, pension guarantee, pensions, police, property taxes, taxes

Why your property tax bill is so high, and how to fix it

By Austin Berg

08/02/2018

Less than 50 cents of every additional property tax dollar over the last 20 years went to pay for services that raise home values. Instead, the primary driver of the rise in property taxes was pension costs.

TAGS: IMRF: Illinois Municipal Retirement Fund, municipal pensions, pensions, property taxes, real estate

Retired Kane County water district employee has banked $3.5M in pension payments

07/30/2018

Despite serving one of the most overtaxed parts of the state, a retired Kane County-area water district employee has collected millions in pension payouts over the past 20 years.

TAGS: IMRF: Illinois Municipal Retirement Fund, Kane County, municipal pensions, pensions, property taxes, taxes