Capitol Fax.com - Your Illinois News Radar » Poshard the pension king
SUBSCRIBE to Capitol Fax      Advertise Here      About     Exclusive Subscriber Content     Updated Posts    Contact Rich Miller
CapitolFax.com
To subscribe to Capitol Fax, click here.
Poshard the pension king

Wednesday, Nov 19, 2014 - Posted by Rich Miller

* The BGA has a story about how Glenn Poshard boosted his pension to over $200K a year

The key element in how Poshard built his enviable retirement cushion was winning election to the state Senate. Of all Illinois state pensions, none is as generous as the one legislators created for themselves — the General Assembly Retirement System, or GARS.

That allowed Poshard to start his retirement with a pension of 85 percent of his state salary when he started collecting his pension in 2003 after retiring for the first time from SIU.

Poshard also understood early on that there were ways to boost his pension. At 42, while running for Congress in 1988, then-state Sen. Poshard contacted GARS about his future pension. According to a handwritten note in his file at the pension fund, Poshard “was leaving town & wanted to know right away” what it would cost to buy pension credit for the two years left in his Senate term. The note said: “situation discussed at length during office visit of 11/17/88.”

Poshard paid $7,860 to get pension credit for 23 months of the Senate term he didn’t serve. That gave him credit for seven years in the Senate, though he served five. It was money well spent, boosting his current pension by $20,000 a year, records show.

Poshard later bought 1.25 years of pension credits in the State Universities Retirement System for jobs he had nearly 30 years earlier while an undergraduate at SIU. The credits cost him $5,598. They add $5,000 a year to his pension.

He also was allowed to buy 2.5 years of credit from the university pension system for his time in the U.S. Army in the 1960s. He wasn’t in the Army long enough to qualify for a military pension.

Poshard, of course, is a member of Bruce Rauner’s transition team. Rauner has repeatedly blasted state pensions, but they refused to take the BGA’s bait

“Dr. Poshard has a tremendous amount of knowledge about southern Illinois, as well as the university system, and is respected across party lines,” the Rauner spokesman said. “His role with the transition is voluntary and not focused on pension issues.”

       

68 Comments
  1. - William j Kelly - Wednesday, Nov 19, 14 @ 11:22 am:

    I hate it when people say’I TOLD YOU SO!!’ That is why I try to never say ‘ITOLD YOU SO!’ It is also apparently bad form to point out corruption in Illinois because so many people just love corruption! So I will just have to refrain from commenting, thank you, and have a nice day.


  2. - Very Fed Up - Wednesday, Nov 19, 14 @ 11:22 am:

    This…is the part that made the tax hike so hard to swallow to pay for pensions. Telling someone making 40K a year they need to give up a weeks pay per year while people can manipulate the system to be millionaires many times over off of our backs. There is no private company on earth that would allow this nonsense to go on.


  3. - Name/Nickname/Anon - Wednesday, Nov 19, 14 @ 11:24 am:

    BGA is right those benefits are too generous. But Poshard didn’t design the pension plan, he just took advantage of what was available.


  4. - SO. ILL - Wednesday, Nov 19, 14 @ 11:26 am:

    WJK - hate the game, not the player. There’s nothing corrupt, or illegal about what Poshard did. Just smart. If you had the chance you would do the same thing. Just like Quinn would trade checking accounts with Rauner in a heartbeat despite running ads bashing the “billionaire Repbulican” the entire campaign. Jealousy is a stinky cologne.


  5. - Grandson of Man - Wednesday, Nov 19, 14 @ 11:29 am:

    Silly unions, government worker pensions are for billion dollar corporations like GTCR and Rauner transition team members. How dare we think otherwise?


  6. - Very Fed Up - Wednesday, Nov 19, 14 @ 11:30 am:

    Indeed the blame is not with Poshard, but 100% on the backs of the politicians who have allowed this to happen. The regime currently in charge will close hospitals, cut school funding, raid the middle class with a tax hike yet won’t touch absurdities like this with a 10 foot pole.


  7. - NW Illinois Dem - Wednesday, Nov 19, 14 @ 11:31 am:

    Poshard played the system like so many others before him. The system is rigged for the insiders from the powerful professions who lobby and play the inside game. This is exhibit A of why Illinois’ fiscal foundation is crumbling. Our kids and grandkids will not respect the current crop of Illinois “leaders” on this and so many other issues. Shameful.


  8. - NW Illinois Dem - Wednesday, Nov 19, 14 @ 11:33 am:

    And SO IL, no, I wouldn’t do the same thing as Poshard. That’s the difference between some of us. Just because you can get away with something doesn’t mean you do it. But, again, this is why future generations are going to look back on this period in Illinois as disgustingly selfish and irresponsible, causing our fiscal foundation to crumble.


  9. - Ducky LaMoore - Wednesday, Nov 19, 14 @ 11:33 am:

    Can’t say I wouldn’t do the same thing. But it sure doesn’t look good if you are still going to be a public figure. If I was from Southern Illinois, and had a 200k pension, you would see me at the Land Between the Lakes 100 times before you see me once in Springfield….


  10. - Thinktoomuch - Wednesday, Nov 19, 14 @ 11:37 am:

    Those poor state workers, deserving of their pensions because of their less than market-rate government salaries.


  11. - Nearly Normal - Wednesday, Nov 19, 14 @ 11:38 am:

    In truth, there are very few state pensioners with this sort of pension! This is one of those exceptions where a person has worked and paid into more than one pension system. Poshard took advantage of his options with each pension system and had the means to pay for the additional credits.

    The vast majority have only one pension and do not receive a six-figure pension.


  12. - vole - Wednesday, Nov 19, 14 @ 11:41 am:

    Glen Poshard has a tremendous amount of knowledge about the pension system, and the pension system and the pension system. Too bad Rauner does not have Poshard helping to reform it. But them with the gold will stay with the the rules and the ruler that bring more gold.


  13. - Shameful - Wednesday, Nov 19, 14 @ 11:43 am:

    Agree with NW Illinois Dem, not everyone would do it. I do blame Poshard. When he was doing it, he knew it was wrong. There is a difference at times between legal right and wrong and moral/ethical right and wrong. Congrats, Glenn, it was not illegal…but it was blatantly immoral and unethical. And you knew it.
    Just because others have OK’d it and done it does not mean real leaders should not try to fix it rather than position themselves to take advantage of it.


  14. - D.P.Gumby - Wednesday, Nov 19, 14 @ 11:46 am:

    This story is more about Andy Shaw and his eternal quest for publicity. The TV news kept calling it “loop holes” as did Spotlight Andy as there was something improper in what Poshard did. Everything was perfectly legal. The only thing that makes it appear to be a story is the amount…and that is such a one-off that it is just tabloid journalism.


  15. - Under Further Review - Wednesday, Nov 19, 14 @ 11:46 am:

    Our part-time legislators are always going on about how their benefits must be superior because otherwise no one would agree to sacrifice the time needed for public service. They will also go on about how they could be hauling down more in the private sector.

    Of course, full-time legislators are the exception to the rule. Many manage to hold second jobs. Frequently, government jobs, but I digress.

    Illinois is too generous with many of its elected officials.


  16. - Capitol Fax Follower - Wednesday, Nov 19, 14 @ 11:47 am:

    Over 99.9% of State workers, as well as existing State retirees, will never see even a fraction of this $200K pension that Mr. Poshard receives. And as said in above comments, change the law that allows such inflated pensions. Don’t point the blame at the person that merely follows the allowable rules set in place. We are lucky to have a man of his talent and experience. So just change the rules going forward so that this isn’t allowed in the future. I believe that average pension is closer to $20,000 per year, far from being too high for the years given to State service.


  17. - Langhorne - Wednesday, Nov 19, 14 @ 11:52 am:

    this stinks big time. it may be “legal” but it still stinks. pension credit for senate years not served, stinks. getting credit for service years earlier, that cheaply, stinks. (i thought he would have to make a payment PLUS interest–thats what i was told when i wanted to do something similar).

    what is his retirement as a % of his highest salary earned?


  18. - Wordslinger - Wednesday, Nov 19, 14 @ 11:52 am:

    The Ted Lechowicz of his day, poster child of politician at the trough.

    It’s shameless schemers like this who put in peril the pensions of regular working stiffs. Buying credits from a job he had 30 years before in college? Ugh.

    He clams he was just following the rules. He neglects to mention that he helped make the rules.

    Rauner needs to shake up his transition team. There’s no credibility to claims of doing away with business as usual when you have this guy hanging around.


  19. - Worth It - Wednesday, Nov 19, 14 @ 11:55 am:

    Very Fed Up “Indeed the blame is not with Poshard, but 100% on the backs of the politicians who have allowed this to happen.” I agree with the rest of your post but let’s not give Poshard and others like him a free pass. Poshard was a member of the Senate and was an influencer that could have fixed the system. When he saw a vulnerability in the system, rather than address it he selfishly worked to exploit it. These nice guy politicians that “work” the system rather than fixing it cannot be given a pass if we expect any of the current legislators to feel enough public pressure to work toward actual reforms of the system.


  20. - Original Rambler - Wednesday, Nov 19, 14 @ 11:55 am:

    NWID 11:31 - I fear that will be the legacy of the Baby Boomer generation in total when all is said and done. This country went from the “all together” efforts of the Greatest Generation to the mess the “me” generation is leaving our heirs.


  21. - Decatur gal - Wednesday, Nov 19, 14 @ 11:58 am:

    It should be illegal, Rauner you need to make it illegal asap, and tell your buddy to give back voluntarily what he shouldn’t have been able to “buy”. That is absurd!!!!!


  22. - vole - Wednesday, Nov 19, 14 @ 12:06 pm:

    Consider the example of Kurt Granberg who received an extra $40,000.00 per year on top of his legislative pension of $73,000 per year for holding the director position of the IDNR for 19 days! The IL legislature actually reformed this practice but Granberg was grandfathered in so he grabbed the golden ring. Granberg to us: watch this swing!


  23. - Anonymous - Wednesday, Nov 19, 14 @ 12:07 pm:

    It’s disgusting that a story like this will be extrapolated to be the story of every single person who works in the public domain.( We will all be suspect as collecting millions/year. I think my neighbors already suspect I do, simply because I collect a state pension.) Of course there are more but that I should have to take a cut in my $1200/month pension and have it regarded as extravagant by taxpayers is the ultimate of stupidity. Change the laws so this stuff can’t happen and go after people who abuse the system but don’t make “regular, playing by the rules” retirees or employees pay the penalty for these shenanigans! And quite interesting that GARS is the most deluxe pension plan but those in it are all too willing to cut the other pension plans.


  24. - 47th Ward - Wednesday, Nov 19, 14 @ 12:11 pm:

    Poshard is a big name and is pulling down big pension money thanks to his astute knowledge of the vagaries of the different systems to which he belonged. But there are a lot of people nobody ever heard of who got end of career promotions that boosted their pension payouts well above what they’d otherwise have received without the help they got.

    I’m thinking of what happens in school districts all across the state, promoting teachers to assistance superintendents for the final few years of a long career.

    You’d think the other teachers, and AFSCME for that matter, would be first in line trying to get these laws fixed to prevent this stuff. Part of the reason some of these funds are underwater is precisely because of gaming the system to take out far more than a person put in. AFT, IEA, FOP, AFSCME etc. should be representing all of their members, not just the connected few who jeopardize the entire pension system.


  25. - A guy... - Wednesday, Nov 19, 14 @ 12:13 pm:

    There were a number of people here suggesting that Poshard be part of a bipartisan effort. Now, he’s tainted. If it’s useful to go through the process, let’s cite every name of every person who has these kinds of benefits being paid out. It’ll be quite a list. Back in the day…they even got to convert their political accounts to personal income too. These abuses weren’t rare enough…and the regular stiffs are paying for it.

    They’re more that just some well known names too. This system has been reformed quite a bit since this time and needs more reform. Maybe he’s a good reminder of this. Tier 2 solves some problems, but it will take some time to show the effect. People live a long time now. While these “generous” pensions are in the minority of pensioners, it’s not a small number of people getting them. For each of these, they are collecting several times what others are. You don’t need that many of them to bleed your system.

    Gotta fix it. now.


  26. - Stan in Ascent - Wednesday, Nov 19, 14 @ 12:13 pm:

    “Indeed, Poshard followed the rules.”

    But by all means let’s run a 500+ word story in a major Chicago newspaper to ding him up.

    I could foresee this story backfiring on Shaw and whoever planted it. Not only does this make him a more visible member of the Governor-elect’s team, but it reminds southern Illinois, where he is still enormously popular, that he’s with Rauner.


  27. - Federalist - Wednesday, Nov 19, 14 @ 12:15 pm:

    It will take a lot of gall to attack state pensions with this news. The hypocrisy will reek.

    But hypocrisy is a strong suit in this state by politicians in both political parties.


  28. - Very Fed Up - Wednesday, Nov 19, 14 @ 12:18 pm:

    I agree 47th Ward. The teachers and other unions would gain a lot of credibility with the public at large by loudly calling out abuses like this. The overwhelming majority have not manipulated the system and are reliant on a reasonable pension for retirement. Why sit silent while a connected few undermine the system.


  29. - mythoughtis - Wednesday, Nov 19, 14 @ 12:18 pm:

    If people aren’t supposed to be taking advantage of these opportunities, then remove the opportunity. Don’t say that someone is un-ethical for using an existing opportunity. Why shouldn’t Poshard have used the military time - wasn’t he eligible for it just like all other military veterans who are state workers?

    If the issue is the GARS overly beneficial pension, then change that. Don’t blame all state workers for what GARS only gave themselves.


  30. - ALMOST THERE - Wednesday, Nov 19, 14 @ 12:21 pm:

    People will read this and think all state employees get this type of pension. The article says the GA is the most generous. Most state employees that actually work have an average of their last 4 out of 10 years to have the pension calculated on. I know I will get about 1400 per month when I retire - and I will have about a 400 per month insurance bill besides general living expenses. And don’t forget all the taxes. Is that too generous? I think not


  31. - Anyone Remember - Wednesday, Nov 19, 14 @ 12:21 pm:

    Would a newly elected legislator be able to do this?


  32. - Apocalypse Now - Wednesday, Nov 19, 14 @ 12:35 pm:

    I will bet Poshard is glad he lost that race for Governor years ago. When he took the job,never in his wildest dreams would he have thought he could game the system and get this kind of pension.


  33. - Jocko - Wednesday, Nov 19, 14 @ 12:49 pm:

    I’m shocked. Shocked! That a political insider who plagiarized his doctoral dissertation would game the pension system for personal gain.

    As others have stated, he’s a 1 percenter who exploited EVERY loophole, and shouldn’t be lumped in with the typical pensioner.


  34. - Bourbonrich - Wednesday, Nov 19, 14 @ 12:50 pm:

    Just think it looks bad when an advisor is part of the pension problem. Can’t wait to hear what Mr. Poshard thinks is the solution.


  35. - Demoralized - Wednesday, Nov 19, 14 @ 12:51 pm:

    Why do we pile on those who receive the pensions, who have done nothing but follow the rules, instead of berating the system that allows it?

    This is nothing but a gotcha story by the BGA.


  36. - Big dummy - Wednesday, Nov 19, 14 @ 12:56 pm:

    So who will be the next one to pad their pension? You can bet your bottom dollar a lot of back room deals still being cut.


  37. - Aldyth - Wednesday, Nov 19, 14 @ 12:57 pm:

    The system is gamed and Poshard played it like a master. Just because it is legal doesn’t make it right. This is a prime example of why people don’t trust government. There is a sweetheart deal in this that stomps all over the taxpayers and climbs over the average state employee.

    Legal cheating is still cheating.


  38. - Demoralized - Wednesday, Nov 19, 14 @ 12:59 pm:

    ==Legal cheating==

    There’s an oxymoron.


  39. - Outsider - Wednesday, Nov 19, 14 @ 1:07 pm:

    The best news is William Kelly is gone for the day. Maybe he is filing those petitions


  40. - orzo - Wednesday, Nov 19, 14 @ 1:23 pm:

    It takes two things to pig out like this: greed and opportunity. Many have the opportunity but are willing to continue to do their job and retire at a fair pension at a reasonable age. Others, as the cynics posting here point out, would if they could, but don’t have the inside track that Poshard had. There are those who dig in deeper at the trough, but they should not taint the image of the average Government retiree. Is it legal? I guess, but in the end we all have to look in the mirror.


  41. - Amalia - Wednesday, Nov 19, 14 @ 1:45 pm:

    in my head I’m singing “Glen Poshard the Pension King” to the tune of the Pumpkin King from Nightmare Before Christmas. that movie has a very fond image of the mayor figure whose head turns around with two faces, one fake happy and the other angry. great action figure. and sad pol commentary.


  42. - Emily Booth - Wednesday, Nov 19, 14 @ 1:46 pm:

    Money hungry.

    Poshard would’ve gotten a retirement income letter reporting how much he has received and how much he actually contributed. Reality check.


  43. - Liberty - Wednesday, Nov 19, 14 @ 2:07 pm:

    Actually SURS sends you a letter with your contribution and the “interest” your have earned along with the state’s “contribution” and the “interest” earned. I use quotes because you don’t get credit for those items until you retire and then you get an “annuity contract.” When you buy back time served you have to pay back interest on the money that the state would have “paid” SURS some time ago stopped the military and part time purchases which were considered good recruiting tools way back when.


  44. - votecounter - Wednesday, Nov 19, 14 @ 2:11 pm:

    A 2 term congressman’s pension is over $17,000/year you have to have served at least 5 years to be vested; Poshard serve’rd 4 terms. His Federal pension is $17,588/year for 6 years work. He was taught how to fluff up his numbers from other “Public servants” And it’s not just POLs
    The insiders fixed the IL state system for themselves like the 40 retired union leaders who draw $408,136 per month in Illinois teachers’ retirement pension, or $4.9 million per year all paid by the taxpayer. They use their salaries from their union gig to raise their pensions amounts. Who do you think wrote those loopholes into law? So they make themselves rich and then decide to give millions to the legislators who gave it to them? If you dare to demand change or vote against it they use PAC money (taxpayer money) to beat you. This has to stop


  45. - Arizona Bob - Wednesday, Nov 19, 14 @ 2:17 pm:

    You can’t go back retroactiviely and strip the abusers of their booty, but you CAN take action to prevent this abuse, double and triple dipping on Illinois pensions, and end of career “spiking” for any future retirees.


  46. - Jeff Trigg - Wednesday, Nov 19, 14 @ 2:36 pm:

    Illinois Democrats are disgusting. Change the law.


  47. - Cheswick - Wednesday, Nov 19, 14 @ 2:39 pm:

    Well, I guess Rauner neglected to ask Poshard, “Is there anything in your personal or professional life that would cause controversy for you or the governor…”


  48. - jim - Wednesday, Nov 19, 14 @ 3:00 pm:

    there are thousands of pensions like that in Illinois. that’s what the Illinois Supreme Court is committed to preserving, at least until the pension systems go bankrupt.


  49. - Shark Sandwich - Wednesday, Nov 19, 14 @ 3:24 pm:

    From the article: “Poshard’s state pension payout — initially about $140,000 a year — has grown by $50,000 a year thanks to Illinois’ automatic 3 percent-a-year cost-of-living adjustment, or COLA.”

    That can’t be right. $50k has to be the sum of all aai’s, not $50k more ea. year on $140k…


  50. - PJ - Wednesday, Nov 19, 14 @ 3:51 pm:

    This is classic BGA.
    He hasn’t done anything illegal, but they don’t like it, so they’re going to embarrass him while intimating this practice is widespread among public employees.
    If they truly wanted to improve government, they would advocate for change on stuff like this in Springfield, but that’s not going to happen because they’d run out of things on which to write their articles.


  51. - JohnTwig - Wednesday, Nov 19, 14 @ 3:58 pm:

    As a 22-year retire under SURS and TRS (not in the same class as Glenn P.), I would suggest that since we can’t take it back — let’s tax it. I would be glad to pay an Illinois income tax on my retirement income so long as every other retiree does the same. I would prefer that tax to be graduated.


  52. - Old and In The Way - Wednesday, Nov 19, 14 @ 4:13 pm:

    Jim
    Thousands? Really? Sorry but if you are going to say it, back it up! Hard to believe when the average is around $24,00 per year. Clearly it’s unfair but thousands? Really?


  53. - RNUG - Wednesday, Nov 19, 14 @ 4:24 pm:

    While the State hasn’t plugged all of the “loopholes”, a number of them have been plugged.

    That targeted loophole that allowed some legislators to claim TRS credit for just a couple of days of teaching got slammed shut a few years ago.

    The end of career teacher pension “spiking” can still happen, but now the local districts have to pick up the cost over a certain percentage of raise.

    The military service buyback has had different rules over the years; most of the time it has been limited to a maximum of 2 years credit and you had to pay the assumed rate of return “interest” in order to purchase, so it was generally cost-prohibitive unless you did it immediately upon returning to State service. However, there was at least one period when the “interest” payback was capped at only a few years when they were trying to get some “extra” money into the pension funds from those vets. A good friend had just finished buying back their military service at the “full” cost when the State offered the discounted deal; they were not happy.

    There are still some treatments that are more favorable, but those are mostly in GARS or for persons who have participated in multiple systems (as Poshard did). That’s where the opportunities for abuse still somewhat exist.

    The average employee who retires under just one of the systems doesn’t have much opportunity to manipulate things. This is especially true for the SERS participants (actual State employees). About the only opportunity SERS members had was the one-time 2002 ERI deal that was designed to reduce GRF personnel expenses without considering the impact on the pension funds. That opportunity to buy 5 years of service was overly generous and has not been repeated.

    Bottom line is that the system could be further improved to eliminate gaming the systems, but there are a fewer loopholes today than in the recent past.


  54. - Arthur Andersen - Wednesday, Nov 19, 14 @ 4:27 pm:

    Shark, it’s 50k more per year if I’m reading it correctly. I can’t exactly make that math work, though.


  55. - Arthur Andersen - Wednesday, Nov 19, 14 @ 4:39 pm:

    Nice job, RNUG. One other issue where disparate treatment still exists, IMHO, is in the systems’ “return to work” rules. TRS and SERS retirees are severely limited in their ability to return to work in jobs covered by their pension system-SURS, not as much, as the Poshard matter illustrates. Pretty sweet to be able to freeze the pension in exchange for a full-time gig plus a bonus “annuity.” He’s also likely on the “money purchase” benefit formula that pays out a lot more dough than the percentage benefit formula most teachers and State workers get.


  56. - Mouthy - Wednesday, Nov 19, 14 @ 4:48 pm:

    There’s another one that’s just as bad as this but nobody seems to want to mention it…


  57. - Anonymous - Wednesday, Nov 19, 14 @ 4:51 pm:

    Too bad everyone wants to go crazy over pension payments while Wall Street 1%-ers and vulture–ooops–venture capitalists are raking millions gaming their systems. It’s so much more fun to attack public workers and their pension systems, hoping, apparently, that they’ll approach poverty levels while the above mentioned skate to glory on their manipulations. Why is that? If we want to have money available in this state, wouldn’t it make sense to get it from those who have tons of it, rather than the grandmas living on 24K?


  58. - Told ya so - Wednesday, Nov 19, 14 @ 5:11 pm:

    Gotta love how one of the Obama insiders said how they rely on voter stupidity. Telling the truth is always in vogue.
    Now as to Illinois it was so much fun watching the people fawning over Poshard while the few that are not disillusioned stand back and watch
    NIce to know the intelligence of the usual Capitol Fax posters
    By the way Richei boi I hear you had some site problems lately. Time for you to call out your so called hounds to investigate?
    LOL…Illinois welfare trash all


  59. - RNUG - Wednesday, Nov 19, 14 @ 5:13 pm:

    Using the BGA’s own pension database and their search tool for FY14 data, there are a total of 63,475 SERS retirees. There are 612 SERS retirees (~0.01%) with more than $100K pensions. None of them are receiving $200K.

    There are 1,076 JRS/GARS retirees. There are 644 JRS/GARS retirees (~60%) with more than $100K pensions. Only one retiree (


  60. - RNUG - Wednesday, Nov 19, 14 @ 5:28 pm:

    -AA-, actually, SERS retirees have different “return to work” rules depending on when they retired. Those who took the 2002 ERI are very severely limited, and pretty much have close to zero opportunity to increase their pensions. The 2004 “Early Out” was also limiting. SERS retirees outside those two periods have more freedom but, as you note, nothing like GARS & SURS.


  61. - Arthur Andersen - Wednesday, Nov 19, 14 @ 5:34 pm:

    Good point, RNUG. Thanks for reminding me.


  62. - Downstate Greg - Wednesday, Nov 19, 14 @ 6:02 pm:

    Way to go Glenn!!! Your just following the pension rules.


  63. - Sir Reel - Wednesday, Nov 19, 14 @ 6:06 pm:

    I don’t think most of those criticizing Poshard’s pension are saying the average State pension is too much. They’re just saying his is.

    Why not limit State pensions to up to $100,000. With no contribution by employees on income above that level.

    May not be constitutional or politically doable but would stop these examples being trotted out every month or so.


  64. - Nathan R. Jessup - Wednesday, Nov 19, 14 @ 7:14 pm:

    It’s immoral greedy and one main reason the state is broke. Great transition guy


  65. - RNUG - Wednesday, Nov 19, 14 @ 7:24 pm:

    - Sir Reel -, based on a couple of the pension cases I’ve read, I’m sure a cap of that type for existing employees would be considered a diminishment. You could legally put it in place for new hires.

    That’s pretty much all you can do, slam the barn door on potential future “abusers”.


  66. - steve schnorf - Wednesday, Nov 19, 14 @ 7:56 pm:

    All you naysayers,so how much of the pensions that Poshard earned should he be accepting? Just like how many deductions or other adjustments (dividends, capital gains, etc) should the wealth person use and still be “moral”? How many dependents can a large family claim and still not be “corrupt”? I call BS.


  67. - Sick of It All - Thursday, Nov 20, 14 @ 1:37 am:

    Glenn Poshard was a do-nothing Senator and Congressman and a marginal SIU President who should have been fired for plagiarizing his doctoral Thesis. What a sleeze bag. And we are paying for his riches. Can’t believe Rauner chose him of all people. And I voted for him for Governor!


  68. - Late to the Party - Thursday, Nov 20, 14 @ 8:05 am:

    As RNUG as clearly stated: this sort of manipulation is *not* allowed by normal state employees/retirees. Rather, they are currently fighting to keep what they already have let alone trying to boost it. As Larry Niven said in “RINGWORLD”: TANJ (There Ain’t No Justice).


Sorry, comments for this post are now closed.


* Isabel’s afternoon roundup
* Pritzker says he 'remains skeptical' about Bears proposal: 'I'm not sure that this is among the highest priorities for taxpayers' (Updated)
* It’s just a bill
* It sure looks like lawmakers were right to be worried
* Flashback: Candidate Johnson opposed Bears stadium subsidies (Updated x2)
* $117.7B Economic Impact: More Than Healthcare Providers, Hospitals Are Economic Engines
* Open thread
* Isabel’s morning briefing
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Live coverage
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
April 2024
March 2024
February 2024
January 2024
December 2023
November 2023
October 2023
September 2023
August 2023
July 2023
June 2023
May 2023
April 2023
March 2023
February 2023
January 2023
December 2022
November 2022
October 2022
September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller