Illinois state legislators have one of the sweetest retirement deals in the country – and it’s at an amazing cost to taxpayers.
Consider just a few examples of former Illinois lawmakers who have moved into the pension palaceThe largest pension of all-time goes to Arthur Berman (D), a long-forgotten state senator. After retiring from Springfield in 2000 – with a pension spiking stop at the Chicago schools – Berman receives $250,191 annually – that’s four times more than he ever made as a Springfield lawmaker.
- Former Governor Jim Edgar (R) costs taxpayers more than $311,000 per year. He’s double dipping the pension system for two payouts ($166,000 from GARS and $83,000 from the State University Retirement System) plus a ‘part-time’ salary for $62,796 from the University of Illinois.
- Retired Chicago Mayor Richard M. Daley (D) is double dipping the pension system for nearly $222,000 per year. Daley makes $140,455 a year in state lawmaker pension after a short eight-year career as a state senator and another $81,355 a year in city pension payouts for his 22 years as the mayor of Chicago.
- Former State Treasurer Dan Rutherford (R) lost in the republican primary for governor in 2014, but now he receives $140,692 annually ($11,724 per month) in pension payouts – that’s more than his previous treasurer salary!
This pension palace is a bubble that will burst. When it does, everyone in the state but the lawmaker beneficiaries will pay.