Mr. Zettler – be careful

The title is the last line written on a weird, anonymous letter I received by mail today. It was sent to my business office from a PO box in Springfield. According to the letter they are many problems with the state pension systems including the recent $4 million projected over-payment I exposed and worked with […]

Bill Zettler on WGN news discussing huge pension mistake

Bill Zettler, Director of Research for the Family Taxpayers Foundation was interviewed on WGN’s 9 o’clock news by anchor Lourdes Duarte. Duarte reported on a huge mistake in pension calculation for a former Quinn employee. Here’s the video. And here are more facts on the issue from the Family Taxpayers website.

Remembering Pat Quinn’s Apology Tour – “I’m Sorry, s-o-o-o- Sorry, that I was such a fool…”

Who can ever forget when, in May of 2004 Pat Quinn, then Lieutenant Governor, apologized to the Mormons for their mistreatment by Illinoisans in 1845. As Brenda Lee said “…please accept my apology”. Since government apologies seem to be more and more popular these days, especially in Blue States, I thought perhaps we should try […]

Pension math: why the Interest Rate assumption is soooooo important.

As the debate on phony pension reform continues unabated in Springfield pundits on all sides of the issue continue talk about the IR or Interest Rate. This can be very confusing if you do not understand the basic impact changing the Interest Rate assumption has on the viability of any and all pension systems. In […]

Anarchy, Wolves and Resource Acquisition – Are We Next?

What Is Resource Acquisition? New Delhi, India – “Starving flood victims fought each other for scarcefood supplies Monday…” Associated Press, Aug 6, 2009 Five years ago Fortune magazine reported military planners warning of “the mother of all national security issues…the planet’s carrying capacity shrinks, an ancient pattern reemerges: the eruption of desperate all-out wars over […]

Top 15 Superintendents Pensions for 2013.

Last week we published the Top 10 Superintendents salaries. To show how excessive salaries effect pension liabilities we are publishing the Top 15 pensions in TRS all of which are former superintendents except James Hintz who was the school business manager i.e. the school accountant. The key point in the following chart is the column […]

Top 10 School Superintendents Average $333,000 per year salary

When it comes to overpaid public employees it is difficult to argue that K-12 school superintendents aren’t at the top of the list. What exactly is it that supers do to justify $300,000 plus salaries not including fringes and pension payments? Not much from what I can see. These are not “managers” as we think […]

SB1 Pension Reform bill – much ado about nothing.

SB1 Pension Reform bill – much ado about nothing.   The good news: about 75% of state pensions will see COLA cuts adding up to $100 million. The bad news: that’s only about 1% of total pension payouts of $8.4 billion. More bad news: the 1% contribution cuts are $170 million 70% more than the […]

Vastly overpaying public employees has a long tradition in Illinois.

Championnews has a long tradition of reporting on the high and outrageous salaries paid to current employees especially those in the K-12 Industrial Complex. But Family Taxpayers Foundation (FTF) has done research that shows that the overpaying of public employees also has a long tradition in Illinois. FTF has looked at pension records to see […]

There is one state employee in the state pension system for every 6 IL households.

The Family Taxpayers Foundation recently published a chart of the various numbers associated with the 5 state pension systems called “Illinois State Pension Systems Numbers Matrix” and it can be found at the link below: Pension Systems Numbers Matrix You may want to print it out so you can refer to it in the future. […]