McHenry County Board Chairman Jack Franks is set for a pension of $4,885 monthly when he reaches his fifty-fifth birthday October 2nd of this year.
The Democrat inquired about his pension rights and was informed of what he had coming from the General Assembly Retirement System by Angela Ackerson in a May 29th letter.
His eighteen years in the Illinois House of Representatives entitle Franks to not only a pension, which will increase 3 percent a year, but also comprehensive health insurance for himself, his wife and eligible child.
While the retiree’s health, prescription drug, vision and dental insurance is free, it will cost $287 a month to enroll his family members.
There are deductibles.
Franks had $143,157.44 deducted from his legislative salary and put into the pension system.
During the last month of his last term, Franks was double-dipping, that is, he was drawing a salary from both the State of Illinois and the County of McHenry.
While State Representative, Franks praticed law and was a banker.
– – – – –
The author of this article is also a recipient of a legislative pension. It’s over $90,000 a year now and increased 3 percent this month, as it has since his forced retirement in 2001. He was defeated in the Republican Party Primary Election by Rosemary Kurtz.