Top 25 Retired Illinois Politicians With The Biggest Pension Payouts

Taxpayers United of America, an organization that advocates for tax relief and "fighting government pensions," has released an updated list of lawmaker pensions in the General Assembly Retirement System.

At the end of fiscal year 2015, the pension fund had a funded ratio of 16.4 percent -- the lowest of the state's five retirement systems -- and $278.8 million in unfunded liabilities. Here are some more fast facts from the 2015 comprehensive annual financial report:

• Average member salary: $89,241
• 
  
• Active members: 145
• 
  
• Active retirees: 309
• 
  
• Total active beneficiaries (including survivors): 424
• 
  
• Required employee contribution rate: 11.5 percent
• 
  
• Participant contributions: $1.49 million
• 
  
• Employer contributions: $15.87 million
• 
  
• Total participant contributions as percent of total contributions revenue: 8.6 percent
• 
  
• Average age at retirement: 60
• 
  
• Average pension: $58,644
• 
  
• Average length of service: 13.4 years

Here are the Top 25 former state legislators who are receiving the biggest annual pension payouts as of Jan. 27, 2016.

NEXT ARTICLE: Highest- and lowest-paid school superintendents in 2015

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

from Chicago - The Huffington Post http://ift.tt/1TqBmEJ
via IFTTT