Mark joined Dan and Amy to talk about the $8 million incoming to retiring New Trier Superintendent Paul Sally, the broken nature of Illinois’ pension funds, the record $53 billion budget passed by the legislature this week, more details on the crime problems in Chicago, and more.
Read more from Wirepoints:
- New Trier School District set to produce next $8 million superintendent pensioner
- Wirepoints’ 2023 School District Report Cards
- ‘Welcoming’ programs increase the cost of illegal immigration in Illinois by at least $2.2 billion
- ‘The Governor’s Office of New Americans’: Yes, there is one, and it’s getting money for unknown purposes
- New Trier School District set to produce next $8 million superintendent pensioner
- The big myth that needs debunking: Illinois needs more money for education
Audio and summary 
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
What Percentage Of People Retire With A $1 Million Nest Egg? It’s Far Less Than You’d Expect (yahoo.com)
Nice work if you can get it…….
Plenty of jobs in education for those who don’t mind a tough job. No pensions for armchair quarterbacks. What’s stopping you or anyone else for that matter? Afraid of a little hard work. No OnE wAnTs To WoRk AnYmOrE!
My friend’s son is an excellent teacher in the Glenbrook school district.
He is a Tier 2 recipient.
I wouldn’t extol the economic benefits of his job, but you are smarter PPF than everyone else.
Are you trying to tell us that the economic benefits of working as a teacher isn’t as great as others imply? I’m shocked.
No – the point is the Tier 1 Mandarin class makes it difficult to attract talented teachers.
So we can’t attract talented teachers because existing teachers that were offered a tier 1 pension expect to receive them? Do talented teachers only want to join the profession if their predecessors are cheated out of their contractual retirement? You’re making zero sense. Here is the real point. Old Joe is retired. He could have easily joined the ranks of teaching instead of working as an engineer. Now he sits around and complains that teaching is “nice work if you can get it”. My point is that he (and anyone else) could have become teachers but instead made a different… Read more »
It’s more than just Tier I, it’s the profession’s gate keeping that pushes conservatives away which is half the population. Conservatives have zero interest in sitting through four years of madrassas-like ‘inclusion’ and ‘diversity’ classes, only to find it nearly impossible to get hired as a teacher for being a ‘white man’ or asian man in the wrong profession. And if you were hired, you’d have no friends because nobody wants to be seen befriending the conservative white or asian male teacher. And being totally honest, a good part of the reason why schools are failing is because smart people… Read more »
Hello Illinois tax paying serfs. My in-laws are retired Illinois educators. They have been collecting huge pensions for nearly 30 years. They receive a 3% annual compounded increase on said pensions. Because of the compounding annual increases their pension doubled after 23 years. We are talking hundreds of thousands that they receive annually. They left the state of Illinois for lower real estate taxes and better weather years ago.
“Oh ye suckers”
A couple of 150k pensions each and you have a nice base to work with. I hope they also saved additional money so they can truly enjoy their golden years. 300k combined income is nice but also helps to have additional spending money in an IRA. I also hope their house is paid off and they are debt free. Inflation has been rough the last few years and travel and fine dining isn’t cheap.
Well, you really pulled back the curtain and gave us a full view this time. Congratulations-best one ever.
If every voter in the state read the story and this comment, you would be hearing the final notes of your “it’s what the voters want” tune.
I’m encouraging people to save outside of their pension. If each person saves up 2 million in an IRA, this couple could also have an additional 200k per year at a 5 percent draw down. Saving 9k per year starting at the age of 22 will get you around 2 million at age 55 if you invested in the S&P 500. Sure that draw down might be aggressive but it works with the pension leg of the stool. Now they have 500k per year with no debt and they can finance a half way decent retirement. Otherwise you’ll end up… Read more »
Another comment to add to the trove of what the ordinary voter should hear. 500k per year to finance a halfway decent retirement. I’m sure most voters would agree that they would rather enjoy the fruits of their labor, not pay so public employees don’t have to struggle with less than 500k annual retirement.
Ordinary voters should hear about investing at a young age and the value of compounded growth. Nothing stopping you or anyone else from achieving said retirement. You just need to dedicate yourself to a career, invest consistently and not waste your time being jealous of those that have invested and saved for retirement. Otherwise, it’s Fox News and complaining about Bidenflation and immigrants and “hoping” that the other guy elected will bring you prosperity. A truly sad retirement indeed. It’s also nice that Illinois doesn’t tax retirement income. Otherwise that would cost a couple around 25k per year just in… Read more »
Keep digging.
I hope every voter hears it. Voters should look in the mirror and hold themselves accountable for their career choices, their investments and their debt load. There is no use in jealousy towards those that saved and planned for retirement.
Starting early is the key. Otherwise, “keep digging” towards your miserable retirement.
I’ve looked the mirror every day of my life in the 88 years I’ve been on this planet, and not once have I ever held myself responsible for the poor spending habits of Democrats.
So you used to be a gen-x man with a school aged child that you would disown if they were gay but now you’re an 88 year old Wisconsin lake living lady. lol
You keep transitioning.
The secret is: (I don’t really even live in IL)
So your “secret” is to consistently lie. I knew that from your prior comments but thanks for clarifying for the other readers.
LOL
Do you mean the masses of people the school system kept shuffling through, year after year, until they finally graduated unable to read anything more complex than a 3rd grade primer? The ones with even worse math skills? Those voters?
Sure, go tell them to look in the mirror and blame themselves for not having accumulated $2 mil for retirement. I’m sure they will thank you for your profound insights and beg to be allowed to donate most of their earnings to make sure you can enjoy the fruits of your labor.
You don’t need to read above third grade level to understand that you need to save early and consistently. You don’t need to understand calculus to learn that you should spend less than you make.
Perhaps they could take the advice of all the old people telling these kids to pull themselves up by their bootstraps, stop eating avocado toast and quit buying the latest cell phone. lol
Tomahawk steaks tonight for Sally.
Ramen Noodles for the taxpayers.
Sounds fair to me.
It is fair. He earned his money and deserves to spend it as he sees fit. If others only saved enough for Ramen then that’s what they deserve as well. Your decisions have consequences. Conservatives used to understand this concept.
Your in-laws are better-off paying less taxes than they would in Illinois. As a stand-a-lone, the growth of their pension income is nothing to write about.
I would take 3% compounded increases in perpetuity with no market risk anytime. Private pensions if you can still find one are almost exclusively defined income with no increases. Govt pensions need to reflect the private employment
landscape. The taxpayers are being grifted by the system.
Well, then apply to be a teacher so you can have one of those pensions. Although, you probably don’t want to work their low salary schedule. Every job has some good and bad I guess.
Or, turning around your level of disgust maybe private pensions ought to require some kind of yearly COL in a manner roughly like that of IL public employee pensions. Why does a CEO get to make HUMONGOUS income at the expense of his workers anyway? Is there any moral equity there?