Reinvent Illinois

Pensions

Posted on 13. Nov, 2009 by MJ in Reform Ideas

Cap the annual pension payouts to no more than $100,000 per individual. That would mean that person could earn $125,000 per year in the highest paid years and their maximum annual payout at retirement would be $100,000.

There are too many people earning far more than $125,000 per year who are getting huge pensions which is creating a sttrain on the pension system.

For example, I just heard the UofI chancellor who resigned under scandal was earning $325,000/year and will earn $244,000/year on sabbatical because he resigned and needs one year to return to teaching. Those are hideous salaries for any public employee.

Those of us who have worked in the system for years at less than the market rate of pay because of the good benefits are now fearful that our benefits won’t be there because of the upper echelon State employees earning these high salaries.