Educators make MILLIONS in retirement in Illinois

[GeezerMan]

Check out the chart showing how much the top 100 school administrators will make in Illinois.
Estimated total pension liability for the 100 people is $887,925,790.00
Almost 1 BILLION dollars for 100 people.

http://blogs.dailymail.com/donsurber/archives/15988

 

[Genx87]

Think of the kids!

 

[spidey07]

That's kind of the norm for administrators. Their benefits, especially pension/retirement are incredible. They normally pay a good amount into that pension though (generally more than social security). Oh, and they don't pay social security tax.

It's not tax payer money being used for those pensions. It's a self run pension program by the county/state.

 

[BlahBlahYouToo]

is this sustainable without raising taxes?

 

[PeshakJang]

I have no intention of ever entering politics, but if I ever did, it would be to destroy teachers' unions and punish these worthless public employees.

 

[rudder]

It's not tax payer money being used for those pensions. It's a self run pension program by the county/state.

Which has no way to cover the billion dollars for these 100 people let alone ALL state employees and teachers that will receive pensions. Can you say bailout?

 

[Genx87]

is this sustainable without raising taxes?

This is govt, what do you think the answer is?

 

[PingSpike]

is this sustainable without raising taxes?

I don't think it is sustaining itself now, if its like most pension programs.

 

[her209]

Former Niles Township school superintendent Neil Codell is projected to receive $26,661,604 in retirement checks from the Illinois teacher pension plan.

Not a teacher. I just looked up Mary M Curley and she's also not a teacher, but another superintendent. As well as Dennis Kelly.

How many on this list are actually teachers???

Disclaimer: My post not intended at the OP.

 

[MotF Bane]

It's not even as if these people were teaching, no, they just were the administration, something that continually grows, and even during teacher layoffs and cutbacks, they are almost never touched.

 

[spidey07]

Which has no way to cover the billion dollars for these 100 people let alone ALL state employees and teachers that will receive pensions. Can you say bailout?

Well the article was rather disingenuous. It's basing it on projected total pension costs based on expected age and pension duration. You see articles like this all the time meant to invoke jealous rage from the have nots.

The amount of education these top administrators have is incredible, multiple doctorates are required to even apply.

And realize administrators are NOT teachers. They probably were at one time but once they are in admin they stay there because they can help kids the most in that capacity. They are the ones that guide and set policy for all the schools. It is not an easy job by any means and carries a ton of responsibility. They are like the executives of education.

 

[Jaskalas]

Not a teacher. I just looked up Mary M Curley and she's also not a teacher, but another superintendent. As well as Dennis Kelly.

How many on this list are actually teachers???

Disclaimer: My post not intended at the OP.

Well now you know where to get teacher's money from.

 

[Genx87]

Well the article was rather disingenuous. It's basing it on projected total pension costs based on expected age and pension duration. You see articles like this all the time meant to invoke jealous rage from the have nots.

The amount of education these top administrators have is incredible, multiple doctorates are required to even apply.

And realize administrators are NOT teachers. They probably were at one time but once they are in admin they stay there because they can help kids the most in that capacity. They are the ones that guide and set policy for all the schools. It is not an easy job by any means and carries a ton of responsibility. They are like the executives of education.

If their contracts are anything like my buddys wife. The pension is funded by the district without needing input from the employee. My buddys wife I think is getting 9% of her income put into the pension without a required match. And then I think they match something like 3-4% with an optional 401k.

The thing I find even worse is their vacation time. Working 9 months a year allows for ample time to travel during the summer. About a decade ago a local news organization in Minneapolis did a story on vacation time for school administrators. They were allowed to horde unlimited time. One of the administrators had enough vacation time built up over a career to cash out with 750K on retirement.

 

[spidey07]

GenX - administrators work full time year round. And yes, they can bank and save up their vacation time and personal/sick days indefinitely until retirement.

It's actually a very sweet job, but again it takes a ton of education and experience to get it.

 

[PeshakJang]

Well the article was rather disingenuous. It's basing it on projected total pension costs based on expected age and pension duration. You see articles like this all the time meant to invoke jealous rage from the have nots.

Jealous rage? Honestly? You think we can afford to pay 100 people almost $1,000,000,000 for doing nothing the rest of their lives?

The amount of education these top administrators have is incredible, multiple doctorates are required to even apply.

....and? So they can easily get another job, why should we keep paying them for work they aren't doing?

And quite honestly, superintendents are nothing but politicians. You don't need multiple doctorates or an advanced education. An MBA could probably do a better job... they would at least be concerned about budget problems, unlike current administration.

And realize administrators are NOT teachers. They probably were at one time but once they are in admin they stay there because they can help kids the most in that capacity. They are the ones that guide and set policy for all the schools. It is not an easy job by any means and carries a ton of responsibility. They are like the executives of education.

No, the school boards in IL do that. And it is no more difficult than any other similar job in a different field. Probably easier, because they know they will almost never lost their job.

 

[Genx87]

GenX - administrators work full time year round. And yes, they can bank and save up their vacation time and personal/sick days indefinitely until retirement.

It's actually a very sweet job, but again it takes a ton of education and experience to get it.

You think it is reasonable for anybody to be able to horde time? How many private organizations allow for unlimited hording of vacation time? Every company I have worked for allows for a limited carry over of vacation time between years. Usually no more than 80 hours. If you dont use them, you lose them.

By allowing unlimited hording of time. It requires districts to budget for that liability.

 

[Infohawk]

This is ridiculous and is a common problem around the country. Citizens should really demand salary caps for public employees and school district people.

(PS Spidey07 is defending over-paid school administrators now? WTF?)

 

[Hacp]

Arrrrrrrghhhh. More government money wasted. AGAIN! This is why we need to shrink government and lower taxes, so money can't be wasted on these overpaid chumps. I don't care how smart these people are, they should not be making 6 figure pension on the taxpayer dime. If they are so smart, let them go to a private company that will pay them 6 figures.

 

[rudder]

Well the article was rather disingenuous. It's basing it on projected total pension costs based on expected age and pension duration. You see articles like this all the time meant to invoke jealous rage from the have nots.

The amount of education these top administrators have is incredible, multiple doctorates are required to even apply.

And realize administrators are NOT teachers. They probably were at one time but once they are in admin they stay there because they can help kids the most in that capacity. They are the ones that guide and set policy for all the schools. It is not an easy job by any means and carries a ton of responsibility. They are like the executives of education.

I wonder what the spouse is entitled to if the person dies? Either way it is a ton of money and unsustainable. Like I said... you have to factor in pensions for ALL state employees. Something will have to give. This is not just an illinois problem.

regarding the salaries though... average results...

http://www.census.gov/compendia/statab/2010/tables/10s0228.pdf

Curious to see what other states spend.

 

[ayabe]

This is ridiculous and is a common problem around the country. Citizens should really demand salary caps for public employees and school district people.

(PS Spidey07 is defending over-paid school administrators now? WTF?)

Salary caps, why that's un-American.

 

[Ldir]

I have no intention of ever entering politics, but if I ever did, it would be to destroy teachers' unions and punish these worthless public employees.

Outrage fail. They aren't teachers and they aren't in the teachers union. They are administrators. Like most executives they are overpaid.

 

[MotF Bane]

Outrage fail. They aren't teachers and they aren't in the teachers union. They are administrators. Like most executives they are overpaid.

Except that these are public employees.

 

[Hacp]

Outrage fail. They aren't teachers and they aren't in the teachers union. They are administrators. Like most executives they are overpaid.

First and foremost, they are government employees. If we starve government, these fat cats will be out of a job.

 

[JockoJohnson]

Salary caps, why that's un-American.

In the public sector, I am all for that. The public sector is typically not a "producer" of revenue whereas most private sector jobs are producing money. Also, the public sector is paid for by taxes. Why couldn't there be a cap? And yes, I know that teachers technically produce educated children who will in turn make lots of money and pay taxes for society.

The salaries of private sector employees are determined by what a company can afford. If business isn't doing too good, there are pay freezes, pay cuts or layoffs. Why can't we have this in the public sector...aside from all the contracts that are written.

I am not against contracts, just against the stupid people who write them. They never seem to put clauses in there for pay cuts/pay freezes. Instead, layoffs have to occur.

 

[Moonbeam]

This high pay is the price we pay for real talent. It's how our system works. The talent gets the compensation. Didn't the bankers who destroyed the American economy but made big profits for their banks, also get compensation. It's contractual and we are a nation of laws. Get it into works and you're golden. Nobody makes anybody sign those agreements. This is justice.