Mapping the $100,000+ Illinois Teacher Pensions Costing Taxpayers Nearly $1.0 Billion

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Mapping the $100,000+ Illinois Teacher Pensions Costing Taxpayers Nearly $1.0 Billion

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Mapping the $100,000+ Illinois Teacher Pensions Costing Taxpayers Nearly $1.0 Billion

08/03/2016 12:38 pm

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Forbes contributor Adam Andrzejewski writes:

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 three-times worse.

In 2014 I wrote in Forbes about a pair of union lobbyists who substitute taught for one-day in the public schools and then started collecting over $1 million of lifetime public �teacher� pension payout � despite a state law expressly designed to stop them...

This week, our organization at OpenTheBooks.com debuted our interactive info mapping platform giving context to the 7,499 retired Illinois educators who pulled-down a pension of $100,000 or more. These retirees cost Illinois taxpayers $900 million (2015). Individually, these pension millionaires contributed so little to the system that they �broke-even� on their �cost-basis� within the first 20-months of retirement.

Read the entire Forbes article HERE.

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