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Illinois Salaries and Pensions of School Administrators

jcummins

Well-known member
And I betcha...Obama will say we have to bail them out to support this!

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Does-Neil-C-Codell-deserve-a-26-million-pension--96402639.html

http://dailybail.com/home/make-this-story-go-viral-you-thought-california-state-pensio.html
 

TSR

Well-known member
jcummins said:
And I betcha...Obama will say we have to bail them out to support this!

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Does-Neil-C-Codell-deserve-a-26-million-pension--96402639.html

http://dailybail.com/home/make-this-story-go-viral-you-thought-california-state-pensio.html

Two Questions:

What are the administrative positions these people hold as those salaries are pretty large for an average size school administrator.

Did these people contribute to their pensions and how much? After 30 or more years of monthly contributions you can accumulate a substatial amount of money.
 

jcummins

Well-known member
I don’t have the answer to that. Illinois pension is currently in the news in various sources, perhaps that will come to light. And yes…those salaries appear ridiculous to me. Read this.

http://www.sj-r.com/firstinprint/x767633158/Mismanagement-has-turned-state-pension-systems-into-morass

My point is this state as many other states are in real trouble. I don’t have a pension. I worked in the private sector by choice, and have 401k type retirement funding. I’m retired now. And money is tight. How they solve this….I dunno. BUT, I’ll be damn if I’ll support using taxpayers money from taxpayers in the private sector on 401Ks, bailing out those covered by pensions. They made their bed, they have to sleep in it. We have to get rid of the corruption in all governments, I'm convince we need term limits as a start. NO career politicians. BTW my daughter is a school teacher.
 

TSR

Well-known member
jcummins said:
I don’t have the answer to that. Illinois pension is currently in the news in various sources, perhaps that will come to light. And yes…those salaries appear ridiculous to me. Read this.

http://www.sj-r.com/firstinprint/x767633158/Mismanagement-has-turned-state-pension-systems-into-morass

My point is this state as many other states are in real trouble. I don’t have a pension. I worked in the private sector by choice, and have 401k type retirement funding. I’m retired now. And money is tight. How they solve this….I dunno. BUT, I’ll be damn if I’ll support using taxpayers money from taxpayers in the private sector on 401Ks, bailing out those covered by pensions. They made their bed, they have to sleep in it. We have to get rid of the corruption in all governments, I'm convince we need term limits as a start. NO career politicians. BTW my daughter is a school teacher.

Did you notice the way the funding part of these plans were in trouble in the 1950's. :shock: :( One thing I also noticed was how the state legislators took care of themselves-imagine that, politicians looking out for themselves. How many times a year do state legislators meet? They certainly aren't working every day like teachers or policemen. BTW there are states with very sound pension plans, my brother is a retired teacher in TN which has a very sound pension fund. Doesn't pay much he says but the money is there.
 

Twister Frost

Well-known member
Couldn't agree more with you jcummins--the private sector has no business bailing out a state pension fund. The only state, that I know of, whose retirement fund is solvent is North Dakota's. I was actually impressed to see that when my SD retirement fund was running through a sieve this last 1 1/2 years, ND's actually claimed gains. I think the biggest issue in SD is the "vetting" process---three years and all of the account is yours if you leave the system; whereas, in ND, if you leave the system, you can only take the amount you have put in...the empoyer's amount stays in the system. Looks like they will remain solvent because of a couple different practices, while SD will find itself in a court battle!
 
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