“Illinois Pension Scam” Book Could Hardly Be More Timely

Bill Zettler, who has done oodles of research on Illinois public employee pensions has written a book on the subject.

The cover of Bill Zettler's book entitled, "Illinois Pension Scam."

Published on May 12th, the book’s blurb follows:

“Illinois’ state pension systems are in the worst financial condition of any state system in the country.

“According to Pew Research, Illinois ranks dead last with only 51% of its pension obligations funded.

“In this well-documented and provocative book, Bill Zettler debunks the common myths surrounding the reasons why Illinois is last in pension funding.

“According to Zettler, collusion between public sector unions and the politicians they have funded with member dues has resulted in more than 130 benefit increases since 1970 most of them passed by the Illinois legislature with large majorities and with little or no publicity.

“Those benefit enhancements and their costs have been underplayed by both the public employees and the politicians to the point where there are currently over 6,700 pensions in excess of $100,000.

“These $100,000 pensions are growing at a rate of more than 20% per year thus projecting to more than 25,000 by 2020.

“Zettler uses public information concerning salaries and pensions to develop a powerful argument for immediate restrictions on Illinois public salaries and pensions in order to bring them into line with the private sector and to prevent the state from bankrupting Illinois’ children’s future.

“Bill Zettler is Director of Research for the Family Taxpayers Foundation and has researched and written over 150 articles on Illinois public salaries and pensions since 2005. For 30 years prior to that Zettler was owner or principal of three different software companies.”

Look for the book on Amazon.


Comments

“Illinois Pension Scam” Book Could Hardly Be More Timely — 3 Comments

  1. Before everyone takes aim at all government workers, it should be noted that many workers (except police and fire) at your local municipality are members of the Illinois Municipal Retirement Fund (IMRF).

    At the end of 2010, IMRF had $25 billion in assets and was 86.3% funded on a market basis.

    It administers benefits for approximately 176,000 actively participating local government workers and provides monthly retirement benefits to approximately 97,000 retired local government workers.

  2. All Sheriff deputies and some smaller police departments that did not qualify for downstate police pension area also under IMRF. Note that the wish list that the Gov wants is already reality at IMRF and has been for many many years.

    IMRF never got compounded increases. Whatever the person retired at, they get 3% of THAT first year annunity amount.

    The amount never increases for the rest of their retirement. Now new retirees get the CPI or 3% what ever is lower. NON COMPOUNDED.

    Thoses on retirement still get theold pension provisons.

    IMRF does not have any health insurance provsions.

    Health insurance is usually a a teacher pension (TRS) perk.

    However some get better benies depending on their loacl school contracts.

    The State employees get the cradle to grave health insurance as part of their retirement.

    Now they are bitching they may have to kick in some.

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