Some rebuttal 'facts' on teacher pensions
Statements and implications in Al Palash's June 15 Fence Post article need to be answered with facts.
1. No Teacher Retirement System pension is over 250,000. 2. Seventeen pensions are between $200,000 and $250,000 - all retired administrators. 3. One hundred and fourteen are between $150,000 and $200,000. 4. Slightly over 1,700 pensions are over $100,000 - less than 2 percent of total pensions. 5. Average TRS pension (not median) is $43,000. 6. Over the last 20 years, TRS has received 49 percent of its income from investments, 23 percent from member contributions, 24 percent from the state of Illinois and 4 percent from employers (local school boards). 7. Very minuscule TRS income has come from local property taxes (4 percent). 8. Even more minuscule are retirees getting pensions of over $100,000 (less than 2 percent).
Mr. Palash is "not concerned with the pension of a 90-year-old retiree from downstate Illinois." For TRS purposes, downstate Illinois consists of all the state school systems except for the Chicago Public Schools.
How can we not be concerned with a 90-year-old retired educator? This person, a dedicated professional who devoted his/her life's work to public service, is now highly likely to be receiving a pension which is under the poverty level and not receiving Social Security.
Joe Purpura
Wheaton