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
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.
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?
“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.
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.