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Education pensions - Chicago Style

post #1 of 5
6/23/10 at 11:50am
Thread Starter 
http://www.dailyherald.com/story/?id=375758

Quote:
Pensions for 131 school retirees top $150,000 each annually
Conyers, 64, retired from Palatine Township Elementary District 15 in 2003, and according to public records, built a $690,000, 3,800-square foot home in Seabrook Island the following year.

He got $217,482 last year as a pension from the state of Illinois, according to the Teachers' Retirement System. Thanks to 3 percent annual cost of living increases, that's up by $33,556 since he retired.

He's one of many retired administrators from the suburbs who are among the top school pension recipients in the state.

Public pensions are the focus of intense scrutiny as Illinois tries to figure out how to pay $78 billion it owes to pension funds and as those in the private sector who aren't in line for similar pensions balk at the prospect of higher taxes to fund others' retirements.
Incredibly disgusting and pathetic.
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post #2 of 5
6/23/10 at 1:26pm
Haven't you said yourself that if they'd worked all their lives for something, paying into something, that they deserved it?

Why does the amount of money involved change that?
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post #3 of 5
6/23/10 at 2:28pm
Don't want to get technical with you here, but the Palatine school district has nothing to do with the Chicago school district. If you called the thread "Education pensions - Palatine Style", I'd be with you. Suburban schools are very, very different than the city schools, and Palatine in particular is a hoity-toity neighborhood.

My mom taught in the Chicago public schools, and I can absolutely say without any hesitation that she did not receive a pension like this at all. In fact, it was rather paltry.
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post #4 of 5
6/23/10 at 6:31pm
Thread Starter 
Quote:
Originally Posted by Skippymjp View Post
Haven't you said yourself that if they'd worked all their lives for something, paying into something, that they deserved it?

Why does the amount of money involved change that?
If you don't see the difference I am surely not going to explain to you.
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post #5 of 5
6/23/10 at 6:35pm
Quote:
Originally Posted by ckblv View Post
If you don't see the difference I am surely not going to explain to you.
I don't see that there is an explanation. They're collecting the retirement they worked for...good for them.
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