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Public employees enjoy getting fat at two taxpayer funded troughs

The Madison County Record Sep. 13, 2016, 8:02am

One of Waukegan native son Jack Benny's most famous jokes was that he was perpetually celebrating his 39th birthday.

Economic interest statement shows chief judge with multi-million in assets and stakes in SURS and IMRF

The Madison County Record Sep. 13, 2016, 7:36am

St. Clair County Chief Judge John Baricevic owned shares of several corporations and held an interest in at least 25 investment funds as of March 14, according to his statement of economic interests at the Illinois Supreme Court

Prenzler questions whether county IMRF members are putting in 600 hours

Dawn Geske Sep. 8, 2016, 7:50am

Madison County Treasurer Kurt Prenzler doubts whether all county board members currently enrolled in the Illinois Municipal Retirement Fund (IMRF) are putting in the necessary hours for eligibility in the pension fund.

IMRF’s 2013 audit of Madison County raised questions on hours worked by officials

The Madison County Record Sep. 6, 2016, 8:54am

Among 20 Madison County board members and officials who expect to collect state pensions, not one has yet signed a certificate saying that he or she earned it. 

TUA: Illinois taxpayers pay exponentially more than 'multi-millionaire pensioners' into SERS

Ann Maher Mar. 29, 2016, 8:06am

For every dollar that an employee enrolled in the State Employee Retirement System (SERS) pays into their own retirement fund, taxpayers are forced to pay $6.78, according to analysis conducted by a taxpayers' watchdog group.

Self-service trumps public service

The Madison County Record Mar. 15, 2016, 3:16pm

The phenomenal support for presidential candidate Donald Trump may be a mystery to pols and pundits, but not to ordinary people who share the widespread disgust for our increasingly unrepresentative government.

Haine and Haida among top IMRF beneficiaries in state; Though adequately funded, critic says pension system 'just as efficient at stealing taxpayer wealth'

Ann Maher Mar. 9, 2016, 8:51am

The top Illinois Municipal Retirement Fund (IMRF) beneficiaries in Madison and St. Clair counties are among the state's highest paid. And both of them - a lawmaker and a judge - are accruing benefits in other pension systems that will provide even more tax payer-supported income for life when they retire a second time.

Task force drafting downsizing plan; Group aims at state's glut of governments

Mark Fitton and Greg Bishop Nov. 20, 2015, 7:36am

SPRINGFIELD — A task force aimed at the Illinois local government glut began shaping its report to the governor and legislature Thursday as members approved nine proposals.Most of the items passed with little or no opposition, but a handful are expected to draw debate should they make into bill form and be considered by the General Assembly.

Five things to know about Illinois’ sustainable municipal pension fund

The Madison County Record Oct. 7, 2015, 7:52am

Here are five facts that speak to IMRF’s sustainability: 1. IMRF’s fiduciary net position increased from $25.1 billion in 2010 to $34.9 billion in 2014, an increase of almost $10 billion...

Alton firefighter pension fund has almost twice the beneficiaries as active members

Ann Maher Sep. 28, 2015, 3:20pm

Property tax payers in the City of Alton contributed $1.96 million to the city's fire fighter pension fund in fiscal year 2014, while 47 active members currently receiving salaries contributed $291,197 in payroll deductions to the fund. And almost twice as many beneficiaries - 87 retirees, surviving spouses or dependents - drew $3,477,300 in benefits last year.

Five things to know about Illinois’ unsustainable municipal pension fund

Ted Dabrowski and John Klingner Sep. 22, 2015, 11:25am

Everyone in Illinois knows that government-run pension debt threatens the state’s fiscal solvency, with debt for state-run pensions totaling more than $100 billion.

Public pension fund picture looks frightening with unfunded liabilities exceeding net assets

The Madison County Record Sep. 12, 2015, 2:41pm

SPRINGFIELD – Public employee pension funds paid $13,984,668,514 in benefits to 438,814 persons in 2012, according to the Illinois Department of Insurance. Benefits averaged $31,869 per person. Retired workers averaged $34,965, while disabled workers averaged $28,338 and survivors averaged $13,951. More than five persons received benefits for every seven active workers. Payroll for 605,872 active workers totaled $32,334,757,164, roughly $2.30 for every pension dollar.

Delaney files bankruptcy valuing IMRF asset at $2.3 million

The Madison County Record Jun. 19, 2014, 9:45am

Delaney

'No big red flag' on St. Clair County pension review says IMRF

Steve Korris Jul. 25, 2013, 11:28am

BELLEVILLE – St. Clair County administrators asked months ago for a pension review, according to three persons with roles in the review.

A Serious Man

John J. Hopkins Oct. 25, 2012, 6:36am

Hopkins