Nobody knows how to game the system for personal gain like an Illinois lawmaker. The political class voted themselves tens of millions of dollars in lifetime pension payouts. It’s time to end their ‘pension palace.’
Consider just one gross example. Have you ever heard of retired back-bench state senator John Friedland?
Millions of dollars in pension payouts flowed to John Friedland since 1992. Friedland earned $35,661 as a state senator, plus another $46,500 as a part-time employee at the Fox River Water Reclamation District. When he retired from the General Assembly, he received a one month full-time pay spike at the water district for $8,000 – causing his legislative pension to start at $80,856 instead of $30,312. Today, Friedland is pulling down $172,981 per year, due to lucrative ‘cost of living’ adjustments.
Although the ‘Friedland loophole’ was closed, Illinois state legislators still have one of the sweetest retirement deals in the country – and it’s at an amazing cost to taxpayers.
According to General Assembly Retirement System (GARS) disclosures, 137 lawmakers chose to participate in the state pension system while the rest have thankfully opted out. To fund these future retirement annuities, the state government made a $21.7 million payment in 2017, meaning each participating lawmaker’s future pension cost taxpayers $158,547 last year.
See the top all-time GARS pensions here.
At OpenTheBooks.com, we checked out who’s receiving what, when, and after how long – and it’s not pretty. For example, the largest pension of all-time goes to a 31-year long-forgotten state senator. After retiring from Springfield in 2000 – with a pension spiking stop at the Chicago schools – Arthur Berman (D) receives $20,849 every month. Annually, Berman receives $250,191 – that’s four times more than he ever made as a Springfield lawmaker.