Watchdog complains about pensions, response from educator - – Rockford’s News Leader

Watchdog complains about pensions, response from educator


The head of a government watchdog group complains pensions to state workers are too high, citing several examples of local recipients who contributed a small amount to qualify for high payouts.

"So it's a little tiny bit of pension money they're putting into their pension fund while they're employed for 34 years, they retire at 55 with a full pension and they can draw on that for the next 30 years," said Jim Tobin.

However an economics professor at Rock Valley College says the examples are extreme and attention getting as most other pensions are much lower.

Doctor Michael Youngblood says there are things the state can do to reduce the huge pension debt crisis.

"I think one thing we should look at would be, multiple pensions, earned by people who have multiple positions, with the state. To me it seems to make sense if you're a state employee you get one pension and it's based on your years of service with the state regardless of what your position happens to be," said Youngblood.

The state's pension debt has surpassed $100 billion.

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