NTU of Illinois’ List of Top 25 McHenry County IMRF Pensions

Jim Tobin

Below are the top Illinois Municipal Retirement System pensions in McHenry County released Wednesday by Jim Tobin, President of National Taxpayers United of Illinois.  In a press conference at McHenry County College he noted that these individuals worked for local government and their pensions are paid by local property taxes.

Included in the data base are the retiree’s name, the local government employer, the monthly and annual pension, as well as the total pension payout thus far.

The names are in descending order of pension benefit.

  • REIMER KIRK R,  CRYSTAL LAKE PARK DIST                      8,608    103,300    103,300    141,042
  • HOEHNE RONALD S,  VILLAGE OF FOX LAKE                     7,901    94,807    277,617    144,837
  • OLSON GLENN C , MCHENRY COUNTY                                  7,352    88,221    328,934    124,482
  • SHEPHERD DAVID A , MCHENRY COUNTY                          7,299    87,584    87,584    136,286
  • HUBERT CRAIG D, MCHENRY CO CONSERVATION DIST.               7,189    86,270    317,350    206,954
  • LOWERY EUGENE E , MCHENRY COUNTY                             6,889    82,668    82,668    155,887
  • KOTTKE LESLIE E,  MCHENRY COUNTY                                6,656    79,869    481,887    107,326
  • MONDAY TOM A, MCHENRY COUNTY                                    6,420    77,044    223,995    118,021
  • LOCKHART DONALD B,  MCHENRY COUNTY                       6,196    74,350    340,559    105,769
  • SWEENEY ROBERT H, MCHENRY COUNTY                           6,171    74,057    393,695    83,614
  • KLASEN JOHN T, MCHENRY COUNTY                                    6,041    72,495    385,392    102,878
  • MARSCHMAN TERRY A, CITY OF CRYSTAL LAKE               6,029    72,342    272,815    102,383
  • SMITH DENNIS G, MCHENRY COUNTY                                  5,929    71,143    322,996    120,111
  • CRANE MARGARET F,  CITY OF WOODSTOCK                     5,862    70,340    140,681    142,455
  • WEINHANDL RICHARD H, MCHENRY COUNTY                  5,702    68,419    201,311    98,452
  • KELLER VERNON P,  VILLAGE OF CARY                                  5,649    67,791    544,418    70,359
  • GEEGAN WILLIAM F,  VILLAGE OF HUNTLEY                       5,585    67,021    67,021    154,004
  • EPPLEY JOHN L, MCHENRY COUNTY                                       5,565    66,785    247,884    82,945
  • PANDRE CHRISTOPHER, MCHENRY COUNTY                     5,448    65,375    347,543    89,150
  • REINEKING DANIEL W,  MCHENRY COUNTY                       5,385    64,621    64,621    106,032
  • MAYBERRY DONNA G,  MCHENRY COUNTY                          5,376    64,508    64,508    119,277
  • WAKEFIELD CLYDE F,  CITY OF CRYSTAL LAKE                   5,300    63,602    288,757    179,248
  • STAUFFER GARY L, VILLAGE OF CARY                                     5,277    63,330    508,591    67,243
  • BERG MILTON E, CITY OF CRYSTAL LAKE                             5,220    62,635    181,672    130,404
  • KAYS VERNON W, MCHENRY COUNTY                                    5,196    62,349    184,784    91,851

Comments

NTU of Illinois’ List of Top 25 McHenry County IMRF Pensions — 4 Comments

  1. This is totally unconstitutional. Government pensions are out of control. They should not even exist in the first place. Most of us in the private sector will not have a pension, or a viable 401-not-okay program, and yet we have to pay for these folks lavish retirement? Ridiculous. Where is the public outrage? It might be time to get a massive residential campaign together, and not pay the 2010 McHenry property tax bill.

  2. Once again Tobin is wrong and provides erroneous information. IMRF is not a STATE pension and these employees have paid over many years into the fund. IMRF currently is 87% funded totally from the contributions. IT is self sustaining. Paying 7.5% of gross salary plus the municipal match over 30 years creates a significant pool of money which pays interest and dividends. The principle is never touched and the annuities are paid for by the earning in the funds. TAXES do no pay these annuities, taxes only pay the salary match over the working career.

    What part of this doesn’t Tobin understand?

  3. “he (TOBIN)noted that these individuals worked for local government and their pensions are paid by local property taxes.”

    Maybe he should go to http://www.IMRF.org.

    Read “NPR on IMRF: “a model for a well-run pension fund”
    Read “IMRF Earns Record Investment Returns”

    Read ” OAK BROOK, Ill. – February 16, 2010 –In the wake of a historic stock market collapse at the end of 2008, the Illinois Municipal Retirement Fund (IMRF) rebounded in 2009, earning approximately $4.4 billion, or a 24.5 percent return on its investments. These earnings — as yet unaudited — represent a record-high return for IMRF. The fund earned $1.6 billion in 2005, $2.7 billion in 2006 and $1.8 billion in 2007″

    Tobin is a dunce. The IMRF pensions he rails against DO NOT cost the taxpayers. Those monies are paid for from the professionally managed fund balances that pay interest and dividend. Taxpayers contribute ONLY to the MATCHING contributions while the employee is still employed. Much like a 401K IMRF has investments and only dividends and interest are drawn off to pay for the retirees annuities.

    Maybe if TOBIN contributed 7.5% of gross earnings each paycheck for 30 plus years he too would have a nice fund balance to draw from rather than spread misinformation.

    He lumps the STATE funds in with the local IMRF which are two different animals. Yes STATE funds are bacnkrupt, but due to the state robbing the principle.

  4. To be clear.

    IMRF is funded by:

    – Employee contribution
    – Employer contribution
    – Investment returns

    In 2008 IMRF had a negative 24 percent investment return.

    As a result of that large loss in 2008, so the Employer contribution would not spike over 10 percent year over year, IMRF changed its rules, so if the employers chose, the loss could be spread over several years.

    Obviously all IMRF contributions, employee and employer, come from taxpayer dollars.

    And those are property tax dollars, for the most part.

    Most people see IMRF line items on their property tax bill.

    Because IMRF is a defined benefit public sector pension fund, IMRF bills the employer for any investment shortfall in the form of an increased employee contribution.

    The investment goal for IMRF is 7.5 percent.

    Anything short of 7.5 percent, taxpayers are billed the difference in the form of increased employer contributions.

    Not sure if salary match is the correct verbiage; rather, the employer contribution is a percentage of salary, and that percentage of salary is determined by IMRF annually.

    Furthermore, in the past, maybe current not sure, IMRF allowed salary spiking, and IMRF themselves has recognized this as a problem.

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