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Are these stats "OMG?" Or, "So what?"

How do you vote?

  • OMG!

    Votes: 1 14.3%
  • So freakin' what? Who cares?

    Votes: 1 14.3%
  • Rutebega

    Votes: 5 71.4%

  • Total voters
    7

MaggieD

DP Veteran
Joined
Jul 9, 2010
Messages
43,244
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Location
Chicago Area
Gender
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Political Leaning
Moderate
I have a reputation here for being anti public-sector union - for supporting Scott Walker and his efforts to rein in unions - for thinking that teachers are overpaid and their pensions too generous. I live in Illinois. Illinois is entrenched Democratic. Our public pension unfunded liability is: $83 billion. That's full disclosure.

I'm putting together an article for submission to a major Chicago newspaper and would like your opinion on your impression of these stats. This is the pension side. I'll be doing the salary side as well. (It's very difficult and time-consuming to gather the data, but the data as correct as humanly possible. Please assume it is for your vote.)

Because it's very difficult to gather data, I've limited my research to one blue-collar community in suburban Chicago: Elk Grove Village, Illinois

About Elk Grove Village

Median household income in EGV is $71,834.
Per capital income is $28,515.
84.,68% of all households earn less than $75,000 per year.

  • There are 925 current retirees receiving a pension.
    Of those 925, 828 of them are greater than $50K/year. (I analyzed the 828)
    Of those 828 pensions, 730 are from $50-$99,000/year.
    Of those 828 pensions, 95 of them are from $100-$149,000/year.
    Of those 828 pensions, 3 of them are over $150,000/year.

    The average for the 828 pensions is $85,481/year.

Social Security Average: $12,912
Maximum Social Security One Can receive: $28,392

Assume you pay property in taxes in Illinois and that 50% of your bill (approximately) goes toward education. Further, that your property tax bill is around $3,800 for a 3-bedroom, 2-bath home with a 1-car garage and no family room.

How do these numbers hit you? "OMG!" or, "So what?" Thanks.

Thanks!
 
It would probably be better to break down those numbers by educational level and look at that median and household income. Probably best to do the same with pensions.

Otherwise, except for those who are making huge pensions (over 100k), I don't see much to go wow about.
 
I have a reputation here for being anti public-sector union - for supporting Scott Walker and his efforts to rein in unions - for thinking that teachers are overpaid and their pensions too generous. I live in Illinois. Illinois is entrenched Democratic. Our public pension unfunded liability is: $83 billion. That's full disclosure.

I'm putting together an article for submission to a major Chicago newspaper and would like your opinion on your impression of these stats. This is the pension side. I'll be doing the salary side as well. (It's very difficult and time-consuming to gather the data, but the data as correct as humanly possible. Please assume it is for your vote.)

Because it's very difficult to gather data, I've limited my research to one blue-collar community in suburban Chicago: Elk Grove Village, Illinois

About Elk Grove Village

Median household income in EGV is $71,834.
Per capital income is $28,515.
84.,68% of all households earn less than $75,000 per year.

  • There are 925 current retirees receiving a pension.
    Of those 925, 828 of them are greater than $50K/year. (I analyzed the 828)
    Of those 828 pensions, 730 are from $50-$99,000/year.
    Of those 828 pensions, 95 of them are from $100-$149,000/year.
    Of those 828 pensions, 3 of them are over $150,000/year.

    The average for the 828 pensions is $85,481/year.

Social Security Average: $12,912
Maximum Social Security One Can receive: $28,392

Assume you pay property in taxes in Illinois and that 50% of your bill (approximately) goes toward education. Further, that your property tax bill is around $3,800 for a 3-bedroom, 2-bath home with a 1-car garage and no family room.

How do these numbers hit you? "OMG!" or, "So what?" Thanks.

Thanks!

It would depend. What jobs did the 3 do? the 95? General teachers or administrators or friends of Daley? Since this is Chicago, teacher pensions is probably one of the least of your worries for wasted government monies.

Also, what about other places? Do Naperville or Bolingbrook. Also what's Niles up to these days? That's where I'm from.
 
I worked for a large corporation very near Elk Grove Village. Some of the officers of that corporation lived there, but not the high paid ones. There is too much of a cross section of America there and too near the airport etc. So you might not see the highest pensions there. I seem to recall Deer Park as a place. Also there is such a thing as differed income. Differed income is not part of a pension, but can also be paid out in annual installments, tax avoidance you know. Differed income does not have to be revealed to the board, until maybe recently. Good luck on getting complete data. The mean and the median will be interesting numbers.
 
what's the mean household income? mean income? compared to mean pension income?
 
At first glance, I see the below statement and think that the data may be suspect, if you are making a union v.s non-union argument.

There are 925 current retirees receiving a pension.

It would be easier for me to believe "There are 925 village retirees(that had been in a union)currently receiving a pension".

Sorry if this is a pension discussion and not a union one.
 
So what. Firstly, it is unclear as to what jobs those folks actually had. Secondly, I fully support teachers... and police and firefighters getting top dollar regardless of the cost. No public sector jobs are more important to society.
 
I have a reputation here for being anti public-sector union - for supporting Scott Walker and his efforts to rein in unions - for thinking that teachers are overpaid and their pensions too generous. I live in Illinois. Illinois is entrenched Democratic. Our public pension unfunded liability is: $83 billion. That's full disclosure.

I'm putting together an article for submission to a major Chicago newspaper and would like your opinion on your impression of these stats. This is the pension side. I'll be doing the salary side as well. (It's very difficult and time-consuming to gather the data, but the data as correct as humanly possible. Please assume it is for your vote.)

Because it's very difficult to gather data, I've limited my research to one blue-collar community in suburban Chicago: Elk Grove Village, Illinois

About Elk Grove Village

Median household income in EGV is $71,834.
Per capital income is $28,515.
84.,68% of all households earn less than $75,000 per year.

  • There are 925 current retirees receiving a pension.
    Of those 925, 828 of them are greater than $50K/year. (I analyzed the 828)
    Of those 828 pensions, 730 are from $50-$99,000/year.
    Of those 828 pensions, 95 of them are from $100-$149,000/year.
    Of those 828 pensions, 3 of them are over $150,000/year.

    The average for the 828 pensions is $85,481/year.

Social Security Average: $12,912
Maximum Social Security One Can receive: $28,392

Assume you pay property in taxes in Illinois and that 50% of your bill (approximately) goes toward education. Further, that your property tax bill is around $3,800 for a 3-bedroom, 2-bath home with a 1-car garage and no family room.

How do these numbers hit you? "OMG!" or, "So what?" Thanks.

Thanks!

How many live in EGV?

What are the sources of those pensions, ie, private sector retiree or public?

How many of those receiving pensions are working a second job?

How old are those recieving the pensions, or, probably more importantly, what was their age when they took them?

Is it possible to determine what the future pension prospects of the currenly employed are, by comparison?
 
So what. Firstly, it is unclear as to what jobs those folks actually had. Secondly, I fully support teachers... and police and firefighters getting top dollar regardless of the cost. No public sector jobs are more important to society.

Mayor Snorkum fully supports those people having access to 401(k)s so they can finance their own retirements, just like the majority of the people paying the taxes to keep them employed.
 
Mayor Snorkum fully supports those people having access to 401(k)s so they can finance their own retirements, just like the majority of the people paying the taxes to keep them employed.

Good for Mayor Snorkum.
 
So what. Firstly, it is unclear as to what jobs those folks actually had. Secondly, I fully support teachers... and police and firefighters getting top dollar regardless of the cost. No public sector jobs are more important to society.

I agree with this, just as long as you cut the money out from something else to increase pay/benifits to teacher/police/fireman.
 
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