Last week we published the Top 10 Superintendents salaries. To show how excessive salaries effect pension liabilities we are publishing the Top 15 pensions in TRS all of which are former superintendents except James Hintz who was the school business manager i.e. the school accountant.
The key point in the following chart is the column titled “Months Pension To Cover Employee Contrib.” Note that the range is 11 to 16 months of pension to cover every penny contributed by the employee. That’s the equivalent to making my $25,000 annual Social Security payment over $130,000 per year. Nice deal if you can get it.
And please note Mr. Reginald Weaver who was not a state employee but an employee of the Illinois Education Association - the largest teachers union in Illinois.
Special deals, distortions and political corruption all play a role in the outrageous pensions shown here. And you the taxpayer always end up paying the tab.
We will have more articles on how superintendents excessive salaries and the pension they generate are manipulated to the benefit of employees and to the detriment of taxpayers.
Top 15 Superintendent pensions as of October 2013
| Superintendent Name | School District | Pension | Member’s Contribution | Months Pension To Cover Employee Contrib. |
Pension Paid To-date |
|---|---|---|---|---|---|
| Wyllie, Lawrence A | Lincoln-Way CHSD 210 | 289,861 | 376,384 | 16 | 74,076 |
| Bangser, Henry S | New Trier TWP HSD 203 | 277,617 | 275,366 | 12 | 1,776,815 |
| Catalani, Gary T | Community Unit SD 200 | 276,382 | 289,151 | 13 | 1,512,519 |
| Murray, Laura L | Homewood-Flossmoor CHSD 233 | 271,913 | 298,591 | 13 | 1,304,013 |
| Curley, Mary M | Hinsdale CCSD 181 | 264,089 | 248,708 | 11 | 1,445,244 |
| Lamberson, Jonathan E | Riverside SD 96 | 262,516 | 339,413 | 16 | 87,505 |
| Fleming, Larry K | Lincolnshire-Prairie View 103 | 258,163 | 326,507 | 15 | 323,420 |
| Weaver, Reginald L | National Education Association | 257,435 | 264,894 | 12 | 1,224,457 |
| Hager, Maureen L | North Shore SD 112 | 256,059 | 277,774 | 13 | 1,003,003 |
| Hintz, James S | Adlai Stevenson HSD 125 | 249,109 | 235,017 | 11 | 1,774,797 |
| Conyers, John G | Palatine CCSD 15 | 244,778 | 217,805 | 11 | 2,136,680 |
| Kelly, Dennis G | Lyons TWP HSD 204 | 236,935 | 289,587 | 15 | 601,789 |
| Dada, M Mohsin | Schaumburg CCSD 54 | 236,904 | 299,494 | 15 | 532,874 |
| Gmitro, Henry A | Community CSD 93 | 234,803 | 282,750 | 14 | 997,912 |
| Bultinck, Howard J | Sunset Ridge SD 29 | 233,034 | 257,014 | 13 | 1,298,420 |
The Public Sector Pension System is the biggest fraud ever perpetrated on any taxpayers in World history. If one ever analyzes this system, the employee is 50% over compensated to start with and then in the final 4 to 6 years prior to retirement gets a 26% to 40% increase in salary so that the 85% or better payout for Life with a COLA of 3% or more to provide a Royal retirement for these Kings and Queens. The contribution (employee and company/ taxpayer) is 18.4% annually compared to 12.4% for Social Security. The investment returns are planned to be in excess of 7.75% annually with absolutely no downside risks to the individual in these defined plans. So the taxpayers actually add another 9.2% to the already excessive salary structure of these Public Sector Kings and Queens and absorb all the higher market risks in these high Beta/ high risk investments. Yet the taxpayer on Social Security is lucky to get back his contributions as the Public Sector has squandered his contributions. Any conservative analysis of this Public Sector Pension System would never make a payout of over $44K annually and that is under ideal market conditions. What we see here is an absolute fraud at the Federal, state and local levels of the taxpayers of this country and it is a major reason why the nation is bankrupt. These criminals are extremely lucky that the taxpayers do not have the courage and constitution of the forefathers because this fraud would have been addressed long ago.
Dead on! These people make me sick. It’s the Liberal Left again telling us how great their ideology is. It’s all about the kids though, isn’t it? If they don’t kill them before they are born, they are used as propaganda after they are born.
Kudos to you. The “Government Industrial Educational Complex” lives. The people are vanquished.