At Openthebooks.com, activists are uncovering sweetheart insider deals.
Unearthing these insider scams helps to protect the hard working rank-and-file government employees. Since the sustainability of Illinois’ pension systems is in question, public employees and taxpayers deserve hard facts and estimates of our liability.
Collectively, thirty-four retired Union Elites from the National Education Association (NEA), Il Federation of Teachers (IFT), and Il Education Association (IEA) are taking monthly pensions amounting to $338,000. This is an average monthly pension of $10,000 per retiree. The annual payout is over $4 million dollars. At 4% rate of return, over $100 million of lump sum would be necessary to generate the union pensions!
Since Sept 6th, we’ve showcased Reginald Weaver of the National Education Association (NEA) who receives a $20,200 per month teacher pension. His annuity is not calculated on his elementary school teacher wages, but on his earnings as the big chief of the NEA in Washington, DC. Click here to see the total amount his paid into the system, his total creditable earnings and his monthly annuity amount.
Inside the RETIRED, PUBLIC SCHOOL TEACHER database (click twice on MONTHLY ANNUITY AMOUNT to order from most to least) at www.openthebooks.com, we’ve discovered that Weaver is only one of thirty-four retired employees of the teacher unions.
Click here to see the 27 retired employees of the IL Federation of Teachers receiving a government teachers pension.
Click here to see the six retired employees of the IL Education Association receiving a government teachers pension.