More Than 6,000 Retired Illinois Teachers Make Six-Figure Pensions
There are now 6,000 retired Illinois teachers who receive over a six-figure pension.
Illinois Review reported:
The number of retired Illinois public school teachers taking home six-figure pensions topped 5,600 in 2014, according to pension records obtained by Pension360.
Nearly six out of every 100 teachers with ten or more years of service have retired with a six-figure pension.
In Illinois, a $100,000 annual pension is 78 percent higher than the state’s median household income of $56,210, and 235 percent greater than the state’s per-capita income of $29,856, based on U.S. Census Bureau information.
In comparison, less than 2,000 New Jersey retirees pull in six-figure pensions, according to New Jersey Watchdog, which includes all employees, not just teachers.
Less than one out of every 100 New Jersey public workers will retire with a pension greater than $100,000.
New York, on the other hand, closely mirrors Illinois: six percent of teachers retire with a six-figure pension, according to local press accounts.
Based on the U.S. Census, 6.03 percent of actively-working Americans over 18 years of age receive salaries exceeding $100,000.
There’s more… More than 100,000 retired Illinois educators had been paid back what they invested into the system just 20 months after leaving work
The Illinois credit rating was downgraded 13 times under former Governor Pat Quinn.
And then there’s this guy…
Union hack David Piccioli is suing the state of Illinois for a $31,000 pension after working one day as a teacher. Piccioli is already collecting $31,000 from the Teacher Retirement System annually.