|
 Illinois’ broken pension system is a major pain point for
taxpayers, including residents in the state’s shrinking southern region.
Local government retirees in Illinois’ 17 southernmost counties collected over
$500 million in pension benefits over the last 20 years alone. That’s according
to records from the Illinois Municipal Retirement Fund, or IMRF, which only
include retirees still currently drawing benefits from the system – meaning the
overall cost over the last 20 years is much higher.
[to top of second column] |
These growing costs undoubtedly play a role in
explaining many residents’ high property taxes. And barring reform,
they aren’t likely to slow down anytime soon.
Among Illinois’ southernmost counties, the highest median household
income is in Randolph County at $48,343. But more than 130 IMRF
retirees’ annual pension benefits in the region exceed that amount,
with eight of those pensioners receiving six-figure annual payouts.
Click here to respond to the editor about this article |
