Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Retirement gold rush: 32,000 Illinoisans rake in $100K+ in pensions while state runs huge deficit
Business

Retirement gold rush: 32,000 Illinoisans rake in $100K+ in pensions while state runs huge deficit

Buddy DoyleBy Buddy DoyleJuly 10, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Retirement gold rush: 32,000 Illinoisans rake in 0K+ in pensions while state runs huge deficit
Share
Facebook Twitter LinkedIn Pinterest Email

Another brick in the crumbling edifice that is Illinois’ pension system just fell out of place.

New state data analyzed by the Illinois Policy Institute, a nonprofit research organization, sheds light on the state’s generous “Tier 1” pension system. 

Last year, 22 retired Illinois government employees received annual pensions exceeding $400,000, according to a Freedom of Information Act request obtained by the Illinois Policy Institute. Following those 22 names are another 32,000 who received annual pensions of $100,000. The revelation comes as Illinois’ government pension debt nears a record $145 billion, the highest ratio in the nation.

ILLINOIS’ POPULATION IS AGING FASTER THAN THE REST OF THE COUNTRY, EDITORIAL WARNS

The “Tier 1” pension offers generous benefits – including early retirement eligibility, higher payouts, and compounded annual increases – that many experts have deemed financially unrealistic and unsustainable amid the state’s growing pension liabilities.

The office of Gov. J.B. Pritzker did not immediately respond to FOX Business’ request for comment. The Illinois House and Senate also did not respond to requests for comment.

Illinois ranks last among all states in terms of its pension funded ratio – the amount of money it has set aside relative to what it owes retirees.

The fiscal situation places a heavy burden on taxpayers, who also face some of the highest property taxes in the nation. The state’s average effective property tax rate hovers around 2.11%, which is more than double the national average of 1.02%. 

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleSuspect in anti-ICE Texas shooting granted green card under Biden administration
Next Article TOP 10 BEST ROOF TOP TENT 2020

Related Articles

Tesla vehicles to get Grok AI chatbot starting next week, Musk says

Tesla vehicles to get Grok AI chatbot starting next week, Musk says

July 10, 2025
Federal judge issues key ruling against gun maker Sig Sauer in widow’s lawsuit

Federal judge issues key ruling against gun maker Sig Sauer in widow’s lawsuit

July 10, 2025
Trump admin ending taxpayer support for illegal immigrants in postsecondary education

Trump admin ending taxpayer support for illegal immigrants in postsecondary education

July 10, 2025
America First policies electrifying US-made brews and bringing beer boom to red state

America First policies electrifying US-made brews and bringing beer boom to red state

July 10, 2025
Mortgage rates tick higher for first time in weeks

Mortgage rates tick higher for first time in weeks

July 10, 2025
Boxing star Amanda Serrano graciously attempts to turn down chance at 0K bonus ahead of title fight

Boxing star Amanda Serrano graciously attempts to turn down chance at $250K bonus ahead of title fight

July 10, 2025
Bud Light, Netflix join forces to make ‘Quarterback’ documentary series parody for fans with Peyton Manning

Bud Light, Netflix join forces to make ‘Quarterback’ documentary series parody for fans with Peyton Manning

July 10, 2025
Trump administration lawsuit cracks down on California’s egg production regulations

Trump administration lawsuit cracks down on California’s egg production regulations

July 10, 2025
Medicaid will undergo significant changes due to the ‘big, beautiful, bill’

Medicaid will undergo significant changes due to the ‘big, beautiful, bill’

July 10, 2025
Don't Miss
Tesla vehicles to get Grok AI chatbot starting next week, Musk says

Tesla vehicles to get Grok AI chatbot starting next week, Musk says

Obama officials admitted they had no ’empirical evidence’ of Trump-Russia collusion: House Intel transcripts

Obama officials admitted they had no ’empirical evidence’ of Trump-Russia collusion: House Intel transcripts

Mother of Lia Thomas opponent reveals emotional toll that drove her to raise funds for women’s sports lawsuits

Mother of Lia Thomas opponent reveals emotional toll that drove her to raise funds for women’s sports lawsuits

Slovakia Warns: EU Will COLLAPSE Without Russia Resources

Slovakia Warns: EU Will COLLAPSE Without Russia Resources

Latest News
Why sitting around a campfire might be the health boost you didn’t know you needed

Why sitting around a campfire might be the health boost you didn’t know you needed

July 10, 2025
Mamdani campaign dishes out millions to firm of key media strategist for Obama campaigns: ‘She’s the best’

Mamdani campaign dishes out millions to firm of key media strategist for Obama campaigns: ‘She’s the best’

July 10, 2025
‘Biblical grounds’ – Texas Attorney General Ken Paxton’s wife files for divorce

‘Biblical grounds’ – Texas Attorney General Ken Paxton’s wife files for divorce

July 10, 2025
Trump admin ending taxpayer support for illegal immigrants in postsecondary education

Trump admin ending taxpayer support for illegal immigrants in postsecondary education

July 10, 2025
Bryan Kohberger, Luigi Mangione may share same rare neurological condition: What to know

Bryan Kohberger, Luigi Mangione may share same rare neurological condition: What to know

July 10, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.