Ever wonder why Illinois is going bankrupt? From Adam Andrzejewski at forbes.com:
We mapped the exclusive club of 30,000 Illinois educators with either salaries or pension payouts greater than $100,000 costing taxpayers $3.7 billion annually.
Illinois teachers are starting their three-month summer break. But when it comes to teacher salaries, there’s no break for taxpayers. Last week, the Illinois legislature passed a new mandate requiring base pay of $40,000 for Illinois educators. (Cue the teacher’s union cheering.)
Yet, lawmakers refuse to cap the payouts for the most highly compensated public employees who burden the system with unsustainable salary and pension costs. The payouts are so large, by our calculation, the equivalent of $1 out of every $3 in individual income tax is paid out to retired teachers.
For 30,000 Illinois educators, the new “minimum wage” is $100,000+. Nearly 20,000 of these employees are currently working, while the other 11,766 are retired – pulling down six-figure pensions.
Thanks to an interactive tool we’ve built at our government transparency web site, OpenTheBooks.com, every taxpayer in Illinois and across the country can search the $100,000 Club at the teachers’ retirement system by zip code. Want to see who in your backyard makes a $150,000 salary for teaching drivers ed or PE classes? What about the retired art teacher with a $100,000+ lifetime pension annuity?
It’s a game the whole taxpaying family can play! Use it and be amazed – and also help out reform-minded legislators and Gov. Bruce Rauner’s team identify waste. Click here to access the map below.