Saturday, September 22, 2012 3:02:33 PM
INSANITY IN ILLINOIS - and look at the date of this report. Why didn't they see the problem five years ago?? A lot of these guys have already retired and are sucking the system dry!
Meet Neil Codell an Illinois educator with a $26 million state pension.
Look for 'Codell, Neil C' -- 4th from the top of the list. His estimated career pension is $26,661,604. That's almost $27 million for a single administrator within just one local Illinois school system (Niles, to be exact).
Read about his benefits package http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois
On February 2, 2009 the Chicago Sun-Times reported that Niles Township school superintendent Neil Codell was paid $411,500 in 2008, a record for the state of Illinois. Codell took a lesser job in the school district on June 30, 2008, but did not receive a pay decrease. In fact, Codell's contract, signed in January 2005, set his base salary at $182,500 with the option of two 20 percent raises before he retired. Also covered are 100 percent of hospitalization and major medical premiums for his entire family for 10 years after retirement, as well as $500-a-month auto allowance and a term life insurance policy for twice his salary for as long as he was employed at the school district. The Sun-Times filed an Illinois Freedom of Information Act request to inquire how Codell's salary moved from $182,500 to $411,500, but did not receive a response.
Read more: http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois#ixzz27E7dPzOg
$887,925,790.00
You read this right. The top 100 retirees, by themselves, will cost Illinois taxpayers nearly one billion dollars.
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More detail: Source
While the California teachers' unions are effectively destroying one school system after another, an alert commenter pointed me to some even more shocking news from Illinois. Their pension system for educators is -- if you can believe it -- even farther off the reservation.
Using actuarial calculations from the Teachers' Retirement System (TRS), Champion News reports that the total estimated pension liability for the top 100 retirees will equal...
Meet Neil Codell an Illinois educator with a $26 million state pension.
Look for 'Codell, Neil C' -- 4th from the top of the list. His estimated career pension is $26,661,604. That's almost $27 million for a single administrator within just one local Illinois school system (Niles, to be exact).
Read about his benefits package http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois
On February 2, 2009 the Chicago Sun-Times reported that Niles Township school superintendent Neil Codell was paid $411,500 in 2008, a record for the state of Illinois. Codell took a lesser job in the school district on June 30, 2008, but did not receive a pay decrease. In fact, Codell's contract, signed in January 2005, set his base salary at $182,500 with the option of two 20 percent raises before he retired. Also covered are 100 percent of hospitalization and major medical premiums for his entire family for 10 years after retirement, as well as $500-a-month auto allowance and a term life insurance policy for twice his salary for as long as he was employed at the school district. The Sun-Times filed an Illinois Freedom of Information Act request to inquire how Codell's salary moved from $182,500 to $411,500, but did not receive a response.
Read more: http://sunshinereview.org/index.php/Niles_Township_Community_High_School_District_219,_Illinois#ixzz27E7dPzOg
$887,925,790.00
You read this right. The top 100 retirees, by themselves, will cost Illinois taxpayers nearly one billion dollars.
---
More detail: Source
While the California teachers' unions are effectively destroying one school system after another, an alert commenter pointed me to some even more shocking news from Illinois. Their pension system for educators is -- if you can believe it -- even farther off the reservation.
Using actuarial calculations from the Teachers' Retirement System (TRS), Champion News reports that the total estimated pension liability for the top 100 retirees will equal...
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