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