Illinois Policy: After leaving Springfield, 58 former state lawmakers are collecting yearly pension payouts over $100,000, according to General Assembly Retirement System data. Of those, 44 have accumulated over $1 million in total pension benefits.
On average, the 58 former state lawmakers collecting six-figure pensions have accumulated nearly $1.5 million in total pension benefits, while averaging only $126,300 in total contributions.
In one of the nation’s worst states for pension debt, with estimates ranging from $130 billion to $250 billion, the lawmakers’ system is the worst of the worst. The General Assembly Retirement System, or GARS, contains only 14.4 percent of needed funds and requires a taxpayer bailout each year. more here
Politics pay well. No wonder they fight like cats to get into the racket.
It will get a lot worse real quick here in Illinois.
I was hoping to survive just a few more years here, but we will need to step up efforts sooner due to recent developments. The first will be an all out assault on 2A, this is going to come quickly.
The next will be all about money and living here is directly tied to that. It will probably take a year or two for that pain to be felt, but it’s coming.
Shit, it currently costs me a half a year of pay, working at McDonald’s, just to pay the taxes on PROPERTY THAT I OWN OUTRIGHT! We are ‘Tenants in the ENTIRETY!’ Which means, Illinois owns none of it!!!