Posted on 10/10/2014 6:03:05 AM PDT by george76
Taxpayers on hook for millions in retirement benefits unrelated to teaching . Thanks to a loophole created by the Illinois legislature, retired teacher union leaders are getting pension credit for the years they did union work after leaving the classroom. The arrangement has put taxpayers on the hook for millions of dollars in retirement benefits unrelated to teaching, and further drained an already overburdened state pension fund.
...
The union bosses collecting the payouts had jobs at the National Education Association (NEA), the Illinois Education Association (IEA) and the Illinois Federation of Teachers (IFT) after their teaching careers. Most got massive pay raises when they jumped from the classroom to the unions, swelling their pension payouts by large amounts at the expense of taxpayers.
...
The arrangements live on even as the Illinois Teachers Retirement System (TRS) hurdles toward insolvency — it is currently underfunded by an estimated $54 billion .
(Excerpt) Read more at washingtontimes.com ...
Frankly, the taxpayer of corrupt states like this deserve the reaming they are getting.
Totally agree and well put!
It’s only a “loophole” if it is unintentional. The Illinois DemocRATS INTENDED this travesty as a way of rewarding a part of their base at taxpayer expense. This is normal for the ‘RATS.
Teacher’s union officers do the same thing in most every state, it is SOP for all unions.
UAW district reps never work a single hour for the company that hosts their local, but they continue to build pension credits while they work exclusively for the union.
Once appointed as a district Rep the host company is stuck with them as an employee on the books, but they never have to work there again.
If their host company closes the District Rep has the option of attaching themselves to any local within the district, then that company has to carry them on the books and give them pension credits. They still never have to show up there for work.
All the time they are also gaining pension credits from the UAW union itself. Yup, they get double pensions!
It’s no mystery why the big 3 is going bankrupt.
Unions should be outlawed!
How about California? Do tax payers there "deserve it" too? Jim Rob lives in California. Does he "deserve it" too?
I am a tax payer in Illinos and have never voted for a democrat in my life. Do I "deserve it" too?
Imagine that...
Union Government employees negotiate their union contracts with ... UNION GOVERNMENT EMPLOYEES, and we find there are loopholes for union workers to get millions of dollars!
Now that there’s some Goood governmenting~!
This is why liberals want you to vote for them to have MORE GOVERNMENT
It’s Illinois. It is a state born in dirty democrat politics and the model for all democrat politicians. Al Capone located there precisely because of the corrupt political structure.
People get the government they deserve.
What have you done to oppose the corrupt politicians ?
> ...even as the Illinois Teachers Retirement System (TRS) hurdles toward insolvency — it is currently underfunded by an estimated $54 billion.
related:
Illinois governor’s race showcases union fears
http://news.yahoo.com/illinois-governors-race-showcases-union-fears-183448583.html
Anti-Semitism Controversy Embroils Illinois Governor Quinn
Free Beacon | September 24, 2014 | Adam Kredo
Posted on 9/24/2014 2:17:53 PM by SJackson
http://www.freerepublic.com/focus/news/3207414/posts
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