Tuesday, April 18, 2006

George Ryan's pension

Oh, this was sweet information from the Chicago Sun-Times.

Once Ryan is sentenced, Knox said Illinois Attorney General Lisa Madigan must determine if Ryan's crimes were related to his official duties before the state can stop his pension, as the state has done with Cook County judges caught fixing cases.

Ryan's annual pension is $197,037.60, which is 74 percent greater than the retirement deal for former Gov. Jim Edgar. Ryan's pension is also 30 percent larger than Gov. Blagojevich's current salary of $150,691.

Ryan has been able to benefit from several pension sweeteners that Illinois lawmakers passed over the years to benefit elected officials who serve beyond the 20 years necessary to get a top pension. Ryan has 36 years of service.

Ryan has collected $566,660 in pension benefits from the state since he left office in January 2003. He contributed $234,926.28 to the fund during his career.
He paid in $234,926.28 over 36 years and in three years got $566,660 out. Shoot that's a crime right there, but Ryan had a few more co-conspirators on that.

And what are the current crop of Republican and Democrat leaders in Springfield doing about a pension system that makes them rich off of our hard earned income while putting our children closer to bankruptcy? Nothing.

Makes you kind of sick to think that more of the check you just wrote for taxes is going to pay the pensions of political insiders than it is to help individuals with circumstances where they need support.

1 comments:

Extreme Wisdom 8:51 AM  

Jeff,

What really makes one sick is that this will continue.

The pressure and hype for fake "school funding reform" is nothing more than a ploy to shower Springfield with the money not only to pay for already impossible to keep promises, but new goodies as well.

If we enacted a retroactive Federal law/Constitutional change that forced all government penisions to be actuarially sound tomorrow, the necessary tax increase would bankrupt the nation.

The necessary (and far more just) pension cuts would empty out government buildings in a day, as the bureaucratic class no longer had their tax funded trough to feed at.

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