You thought California pensions funds were in trouble? Lookee at Illinois!
I’m not going to spoil it for you. Read the article below to see how much the top 100 retirees from the Teachers’ Retirement System in Illinois are going to cost their tax payers. Unbelievable. Why the heck didn’t I get me a public job where I would’ve been guaranteed a huge pension payout at the cost of the America tax payers?? And The Annointed One is trying to secure another $26billion for bailout of Teachers’ Unions. Don’t ever say that Obama aint loyal to his friends!
Meet Neil Codell an Illinois educator with a $26 million state pension. Just to drive the point further — if Obama gets his way on his proposed state bailout, you will be paying a portion of Mr. Codell’s pension.
‘Codell, Neil C.’ is 4th from the top of the list.
His estimated career pension is $26,661,604.
That’s almost $27 million for a single administrator within just one local Illinois school system (Niles, to be exact).
While the California teachers’ unions are effectively destroying one school system after another, an alert commenter pointed me to some even more shocking news from Illinois. Their pension system for educators is – if you can believe it – even farther off the reservation.
Using actuarial calculations from the Teachers’ Retirement System (TRS), Champion News reports that the total estimated pension liability for the top 100 retirees will equal…
Make sure you’re sitting down.
You read this right. The top 100 retirees, by themselves, will cost Illinois taxpayers nearly one billion dollars.
Feel free to pass the link on to your fellow sucker USA tax payers!!