Tag Archives: public pensions

For the Children

The people of Illinois don’t expect their government to be corrupt; they insist on it. That’s why nary an eyebrow was raised when it recently came out that two lobbyists for the Illinois Federation of Teachers were able to qualify for generous teachers’ pensions by working as substitute teachers for one day.

One man could receive up to $3.8 million if he lives to age 84. This is in addition to the 401(k) the union gives him as an employee. The Chicago Tribune reports:

Preckwinkle’s one day of subbing qualified him to become a participant in the state teachers pension fund, allowing him to pick up 16 years of previous union work and nearly five more years since he joined. He’s 59, and at age 60 he’ll be eligible for a state pension based on the four-highest consecutive years of his last 10 years of work.

His paycheck fluctuates as a union lobbyist, but pension records show his earnings in the last school year were at least $245,000. Based on his salary history so far, he could earn a pension of about $108,000 a year, more than double what the average teacher receives.

Nationwide spending on K-12 education is around $13,000 per child per year. Not all of that spending is actually for the children, contrary to popular rhetoric. Fortunately, it appears only two people took advantage of this scheme. But the real kicker is that one of the two actually helped write the legislation that made it possible.

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Friday Regulation Roundup

Postal Service pays incompetent employees over $20 per hour to not work. They can’t be fired because of union rules. So they come to the office and take naps, play cards, and fill out coloring books. And get paid for it.

-It is apparently against regulations to sell burgers and porn together without a permit.

NSF funds research to identify star soccer players.

Illinois high school administrator had $885,327 salary; retires with $601,978 annual taxpayer-funded pension. Total value of the pension? More than $26 million. Watch your back, Greece. America is right behind you.

-Ever want to have a web chat with the federal government about combustible dust? Here’s your chance.

Arizona spends $1,250,000 to save 250 squirrels. That’s $5,000 per squirrel.