Tag Archives: illinois pensions

Looks Like No Cost of Living Adjustment (COLA) for Our Senior Citizens on Social Security in 2016 – But Don’t Worry Illinois State Retirees Will Not Sacrifice!

  

While retirees on social security have received little or no increases in benefits in recent years, Illinois state retirees in the generous and bankrupt State of Illinois have continued to receive annual 3% increases. In fact retirees on social security received no increase in 2010 and 2011. See http://time.com/money/3903601/social-security-interest-rates-2016/

When the rest of the country suffered during the great recession, Illinois state retirees continued to see their benefits escalate. Many State retirees after a few years of retirement are making more than they were making when working at their state jobs. No wonder they all want to retire at 50, and move to Florida to collect their Illinois pensions while working at new jobs! Oh well, let’s increase taxes in Illinois. We all want our state retirees to have a comfortable retirement in Florida. 

Take Your Illinois Pension, Leave Illinois, and Head to Florida for a New Job!

IMG_3927The recent article in The Journal Standard on a police officer retiring after 26 years on the Freeport Police Force is not in itself news. What is news is that this is happening all over the State of Illinois. Public sector employees retiring in their early 50’s with large pensions with guaranteed annual 3 per cent increases. These employees then leave the high tax state of Illinois, head to Florida and collect their Illinois pensions, and frequently start a new job in the public sector so they can qualify for another pension! The retiring officer stated that he would miss the people of Freeport. That may be true, but I doubt that he will miss the State of Illinois with its high real estate and other taxes. When the snow is flying in Freeport next January, he will just smile when he receives his pension check from Freeport and his new check from his Florida job. And to the citizens of Illinois, keep working and pay those high taxes so this officer and other retired Illinois public sector employees can enjoy the Florida sunshine.