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Archive → April 7th, 2016

Madigan attempting to raise taxes with “Millionaire’s Tax.”

House Speaker Michael Madigan is at it again, attempting to raise taxes.  He’s again proposing a constitutional amendment, HJRCA 26, his so-called “Millionaire’s Tax.”  This same proposal was defeated in 2014 and last year, and for good reason.  This measure could be voted on as early as today so please click here to contact your legislators andurge them to oppose the Madigan Tax …again!

 
When Madigan suggested this in 2014, the non-partisan Tax Foundation wrote, “a large share of Illinois employers would be impacted by this legislation, since 61% of employers in (Illinois) are pass-through entities. This includes a large number of small businesses and firms in several of the state’s key industries.”  
 
Tantamount to a tax on those who are providing the jobs Illinoisans desperately need, this would be a punitive tax on a highly-mobile group of people largely comprised of job creators and small business owners who operate pass-through entities (meaning the business taxes are paid via the owner’s individual income tax return).  Tell your legislators to reject Speaker Madigan’s tax hike!
 
Not only would this legislation be bad for Illinois’ jobs outlook, but there are problems with the amendment itself. It seeks to write a percentage (3%) and a dollar figure ($1 million) into the Illinois Constitution. No other state has either in their state constitution. While $1 million sounds like a considerable sum, and it is, what will it look like over time?  Consider that $164,000 in 1970, when the current Illinois Constitution was written, would be worth $1 million today.
 
Additionally, while the amendment specifically dedicates the additional revenue to public education, there’s nothing preventing those dollars from merely supplanting, rather than supplementing, current education funding.  Please click here to contact your legislator and urge them to oppose this new tax.
 
Once again, this job-killing proposal could be called for a vote as early as today, so we need your help today!  Please clihttp://action.americansforprosperity.org/jIju848ck here   to send your legislator a message asking them to oppose this constitutional amendment.
 
Yours in Liberty,
 
David From
Americans for Prosperity Illinois

Source: Will County News

Lockport Love Candlelight Bowl Friday, May 20th

Lockport Love Candlelight Bowl

Lockport Love Fundraiser

Friday, May 20th, 2016      Strike and Spare Bowling 811 Northern Drive, Lockport, IL 60441

Doors Open – 6:00PM Dinner – 6:30PM Bowling – 7:30PM Includes – 3 Games of Bowling Dinner, Raffles and Fun!

$30 a person or $50 a couple To purchase tickets call or e-mail Bill Passaglia at 312-203-9998 e-mail: passaglia@aol.com. Tickets are also available at the Lockport Police Station.

 

Lockport Love is a 501(c)(3) tax exempt charitable organization serving the people of Lockport in their time of need. For more information, check out our web site www.lockportlove.com

Source: Will County News

Top 25 biggest Illinois pensions in State University Retirement Systems for 2016

NEW: TOP 25 BIGGEST ILLINOIS PENSIONS IN SURS
Reboot Contributor – Kevin Hoffman
Top 25 biggest Illinois pensions in SURS for 2016.
Reboot Admin ImageREBOOT STAFF
APR 1, 2016 3901 0
Top 25 biggest Illinois pensions in SURS for 2016.
Taxpayers United of America this week released a new analysis of the State Universities Retirement System — the second-largest of the five Illinois pension funds.

The Chicago-based organization, which advocates for tax relief and pension reform, routinely publishes lists highlighting the state’s biggest pensioners. Its latest analysis focuses on the retirement system for academics and staff at public universities and community colleges in Illinois.

“SURS is in dire need of significant pension reform, much like the other Illinois state pension funds. But since individual SURS retirees are some of the highest paid employees, and therefore biggest pensioners in Illinois, the need for reform is all the more serious for both beneficiaries and taxpayers,” said Jared Labell, the organization’s director of operations.

As of June 30, 2015, SURS had a funded ratio of 44.2 percent with $22.1 billion in unfunded pension liabilities, according to a report published in March by the General Assembly’s Commission on Government Forecasting and Accountability.

SURS at a glance

Defined benefit active members: 69,381
Average defined benefit active member salary: $50,103
Self-managed plan active members: 11,928
Total retirees: 51,631
Employee contribution: 8 percent (not eligible for Social Security)
Average age of retiree: 62.6
Average pension: $38,070
Years of service at retirement: 19
SURS

Source: Commission on Government Forecasting and Accountability

The average annual pension payout in SURS is the second-lowest behind the State Employees’ Retirement System, but the vast majority the fund’s top pensioners are distinguished medical professionals and former higher education executives.

However, as the Better Government Association reported in 2013, many of the biggest pensioners were University of Illinois at Chicago employees who retired, began collecting their pensions, and then were rehired after waiting the required 60 days in order to work part-time for a smaller salary.

More from TUA:

“Taxpayers were forced to pay 467 percent more into the SURS pension fund than the multi-millionaire SURS retirees paid into their own government pensions. That means that for every dollar that an SURS government employee contributed to their own retirement, taxpayers were forced to match them with a subsidy of $4.67.”
We’ve only listed the Top 25 biggest pensioners in SURS, but all 200 can be found here. The lowest annual pension payout on the list is $190,631.

*Note: Estimated lifetime pension payout assumes a life expectancy of 85 (IRS Form 590) and the 3 percent compounded cost-of-living adjustment.

25. George Honig

Title: Professor, Pediatric Hematology and Oncology
Employer: UIC
Annual Pension: $296,657
Pension Collected to Date: $3.03 million
Employee Contributions: $401,027
Highest Annual Earnings: $333,915
Estimated Lifetime Pension Payout: $4.95 million
Percent Contributed to Estimated Lifetime Payout: 8.1%
Years Retired: 12
Age at Retirement: 67
Years of Employment: 33
24. Craig Bazzani

Title: Vice President for Business and Finance
Employer: U of I
Annual Pension: $298,927
Pension Collected to Date: $3.39 million
Employee Contributions: $298,686
Highest Annual Earnings: $355,929
Estimated Lifetime Pension Payout: $9.41 million
Percent Contributed to Estimated Lifetime Payout: 3.2%
Years Retired: 14
Age at Retirement: 55 (retired under a pension formula intended for police officers and firefighters)
Years of Employment: 25
23. Jesse Delia

Title: Professor, Communications
Employer: U of I
Annual Pension: $300,880
Pension Collected to Date: $1.36 million
Employee Contributions: $282,870
Highest Annual Earnings: $376,404
Estimated Lifetime Pension Payout: $6.06 million
Percent Contributed to Estimated Lifetime Payout: 4.7%
Years Retired: 7
Age at Retirement: 65
Years of Employment: 39
22. Margaret Lee

Title: President
Employer: Oakton Community College
Annual Pension: $302,098
Pension Collected to Date: $209,056
Employee Contributions: $452,272
Highest Annual Earnings: $424,373
Estimated Lifetime Pension Payout: $4.93 million
Percent Contributed to Estimated Lifetime Payout: 9.2%
Years Retired: 1
Age at Retirement: 71
Years of Employment: 33
21. Joel Sugar

Title: Professor, Ophthalmologist
Employer: UIC
Annual Pension: $308,498
Pension Collected to Date: $3.06 million
Employee Contributions: $446,643
Highest Annual Earnings: $326,310
Estimated Lifetime Pension Payout: $8.33 million
Percent Contributed to Estimated Lifetime Payout: 5.4%
Years Retired: 12
Age at Retirement: 59
Years of Employment: 29
20. James Feld

Title: Professor of Clinical Anesthesiology
Employer: UIC
Annual Pension: $313,444
Pension Collected to Date: $1.16 million
Employee Contributions: $516,149
Highest Annual Earnings: $572,259
Estimated Lifetime Pension Payout: $8.49 million
Percent Contributed to Estimated Lifetime Payout: 6.1%
Years Retired: 6
Age at Retirement: 61
Years of Employment: 21
19. Phillip Forman

Title: Dean, College of Medicine; Vice Chancellor for Health Services
Employer: UIC
Annual Pension: $316,933
Pension Collected to Date: $3.57 million
Employee Contributions: $376,541
Highest Annual Earnings: $355,942
Estimated Lifetime Pension Payout: $4.90 million
Percent Contributed to Estimated Lifetime Payout: 7.7%
Years Retired: 14
Age at Retirement: 67
Years of Employment: 29
18. Jacob Wilensky

Title: Professor of Ophthalmology
Employer: UIC
Annual Pension: $325,119
Pension Collected to Date: $3.17 million
Employee Contributions: $410,791
Highest Annual Earnings: $332,009
Estimated Lifetime Pension Payout: $7.33 million
Percent Contributed to Estimated Lifetime Payout: 5.6%
Years Retired: 12
Age at Retirement: 62
Years of Employment: 31
17. Robert Easter

Title: President
Employer: U of I
Annual Pension: $331,086
Pension Collected to Date: $331,365
Employee Contributions: $471,219
Highest Annual Earnings: $842,908
Estimated Lifetime Pension Payout: $7.01 million
Percent Contributed to Estimated Lifetime Payout: 6.7%
Years Retired: 5
Age at Retirement: 64
Years of Employment: 39
16. Andrew Wilbur

Title: Radiologist
Employer: UIC
Annual Pension: $336,440
Pension Collected to Date: $877,157
Employee Contributions: $599,074
Highest Annual Earnings: $384,578
Estimated Lifetime Pension Payout: $10.53 million
Percent Contributed to Estimated Lifetime Payout: 5.7%
Years Retired: 5
Age at Retirement: 59
Years of Employment: 32
15. Lou Henson

Title: Head Basketball Coach
Employer: U of I
Annual Pension: $336,950
Pension Collected to Date: $3.37 million
Employee Contributions: $300,266
Highest Annual Earnings: $401,287
Estimated Lifetime Pension Payout: $3.70 million
Percent Contributed to Estimated Lifetime Payout: 8.1%
Years Retired: 20
Age at Retirement: 64
Years of Employment: 32
14. Ruth Steeler

Title: Professor, Pediatric Hematology-Oncology
Employer: UIC
Annual Pension: $337,810
Pension Collected to Date: $191,322
Employee Contributions: $283,282
Highest Annual Earnings: $146,489
Estimated Lifetime Pension Payout: $2.38 million
Percent Contributed to Estimated Lifetime Payout: 11.9%
Years Retired: 1
Age at Retirement: 78
Years of Employment: 9
13. James Ausman

Title: Head of Neurosurgery
Employer: UIC
Annual Pension: $348,789
Pension Collected to Date: $2.51 million
Employee Contributions: $418,471
Highest Annual Earnings: $771,604
Estimated Lifetime Pension Payout: $5.19 million
Percent Contributed to Estimated Lifetime Payout: 8.1%
Years Retired: 8
Age at Retirement: 70
Years of Employment: 17
12. Vernon Crawley

Title: President
Employer: Moraine Valley Community College
Annual Pension: $361,260
Pension Collected to Date: $814,450
Employee Contributions: $581,987
Highest Annual Earnings: $674,211
Estimated Lifetime Pension Payout: $3.15 million
Percent Contributed to Estimated Lifetime Payout: 18.5%
Years Retired: 4
Age at Retirement: 75
Years of Employment: 28
11. Clarence Bowman

Title: President
Employer: ISU
Annual Pension: $374,976
Pension Collected to Date: $520,562
Employee Contributions: $410,284
Highest Annual Earnings: $511,080
Estimated Lifetime Pension Payout: $11.97 million
Percent Contributed to Estimated Lifetime Payout: 3.4%
Years Retired: 3
Age at Retirement: 60
Years of Employment: 35
10. Ronald Albrecht

Title: Associate Professor, Anesthesiologist
Employer: UIC
Annual Pension: $379,805
Pension Collected to Date: $2.96 million
Employee Contributions: $462,077
Highest Annual Earnings: $637,633
Estimated Lifetime Pension Payout: $5.41 million
Percent Contributed to Estimated Lifetime Payout: 8.5%
Years Retired: 9
Age at Retirement: 70
Years of Employment: 25
9. Herand Abcarian

Title: Head of Department of Surgery
Employer: UIC
Annual Pension: $381,245
Pension Collected to Date: $2.50 million
Employee Contributions: $628,987
Highest Annual Earnings: $579,910
Estimated Lifetime Pension Payout: $6.87 million
Percent Contributed to Estimated Lifetime Payout: 9.2%
Years Retired: 8
Age at Retirement: 67
Years of Employment: 20
8. James Stukel

Title: President
Employer: U of I
Annual Pension: $390,583
Pension Collected to Date: $2.33 million
Employee Contributions: $337,524
Highest Annual Earnings: $417,670
Estimated Lifetime Pension Payout: $5.32 million
Percent Contributed to Estimated Lifetime Payout: 6.3%
Years Retired: 11
Age at Retirement: 67
Years of Employment: 35
7. Mahmood Mafee

Title: Clinical Professor of Radiology
Employer: UIC
Annual Pension: $416,597
Pension Collected to Date: $3.48 million
Employee Contributions: $562,570
Highest Annual Earnings: $494,056
Estimated Lifetime Pension Payout: $8.81 million
Percent Contributed to Estimated Lifetime Payout: 6.4%
Years Retired: 10
Age at Retirement: 64
Years of Employment: 32
6. Joseph Flaherty

Title: Dean of the University of Illinois College of Medicine
Employer: UIC
Annual Pension: $420,670
Pension Collected to Date: $1.05 million
Employee Contributions: $635,127
Highest Annual Earnings: $515,473
Estimated Lifetime Pension Payout: $9.53 million
Percent Contributed to Estimated Lifetime Payout: 6.7%
Years Retired: 5
Age at Retirement: 64
Years of Employment: 35
5. Peter Maggs

Title: Law Professor
Employer: U of I
Annual Pension: $422,150
Pension Collected to Date: $543,220
Employee Contributions: $509,123
Highest Annual Earnings: $305,999
Estimated Lifetime Pension Payout: $3.27 million
Percent Contributed to Estimated Lifetime Payout: 15.6%
Years Retired: 2
Age at Retirement: 77
Years of Employment: 21
4. Ronald Guenther

Title: Director of Athletics
Employer: University of Illinois – Foundation
Annual Pension: $459,315
Pension Collected to Date: $988,340
Employee Contributions: $614,647
Highest Annual Earnings: $744,153
Estimated Lifetime Pension Payout: $9.53 million
Percent Contributed to Estimated Lifetime Payout: 6.4%
Years Retired: 5
Age at Retirement: 65
Years of Employment: 29
3. Edward Abraham

Title: Orthopedic Surgeon
Employer: UIC
Annual Pension: $466,759
Pension Collected to Date: $3.69 million
Employee Contributions: $535,165
Highest Annual Earnings: $459,998
Estimated Lifetime Pension Payout: $9.04 million
Percent Contributed to Estimated Lifetime Payout: 5.9%
Years Retired: 9
Age at Retirement: 66
Years of Employment: 35
2. Tapas Das Gupta

Title: Professor, Head of Department of Surgical Oncology
Employer: UIC
Annual Pension: $480,381
Pension Collected to Date: $4.77 million
Employee Contributions: $475,331
Highest Annual Earnings: $481,856
Estimated Lifetime Pension Payout: $5.25 million
Percent Contributed to Estimated Lifetime Payout: 9.1%
Years Retired: 12
Age at Retirement: 72
Years of Employment: 35
1. Leslie Heffez

Title: Professor and Head, Oral and Maxillofacial Surgery
Employer: UIC
Annual Pension: $564,298
Pension Collected to Date: $578,460
Employee Contributions: $768,611
Highest Annual Earnings: $783,862
Estimated Lifetime Pension Payout: $22.33 million
Percent Contributed to Estimated Lifetime Payout: 3.4%
Years Retired: 4
Age at Retirement: 55
Years of Employment: 29
You can find the complete list of the Top 200 SURS pensions at www.taxpayersunitedofamerica.org.

Source: Will County News

State Department Seeks to Limit Judicial Watch Questioning of Clinton Aides

State Department Seeks to Limit Judicial Watch Questioning of Clinton Aides

Image: State Department Seeks to Limit Judicial Watch Questioning of Clinton Aides
Image: State Department Seeks to Limit Judicial Watch Questioning of Clinton Aides Hillary Clinton (Photo by Andrew Renneisen/Getty Images)
By Greg Richter | Wednesday, 06 Apr 2016 04:37 PM


The State Department is seeking to limit questions a conservative watchdog group can ask aides for former Secretary of State Hillary Clinton, The Washington Post reports.

In a filing made late Tuesday, State asks U.S. District Judge Emmet G. Sullivan to limit Judicial Watch’s questions of seven current and former Clinton aides to “the reasons for the creation of [the clintonemail.com] system.”

State has asked the judge to keep off-limits the employment status of Huma Abedin, who was then deputy chief of staff and currently vice chairman of Clinton’s presidential campaign. The department also wants Judicial Watch to be barred from asking about “the storage, handling, transmission, or protection of classified information, including cybersecurity issues; and questions about any pending investigations.”
Latest News Update

 

Judicial Watch, on the other hand, has submitted a discovery plan to depose aides Patrick M. Kennedy, Cheryl Mills, Huma Abedin and Bryan Pagliano on their knowledge of the server. Pagliano, who set up the server, has plead the Fifth to Congress, but has been granted immunity from prosecution.

Judicial Watch’s plan to question the aides was made to determine whether Clinton’s private email server violated open-records laws.

Sullivan is expected to make a ruling on the two proposals on April 12, Lawnews.com reports.
Breaking News at Newsmax.com

Source: Will County News