Reason.com - Free Minds and Free Markets
Reason logo Reason logo
  • Latest
  • Magazine
    • Current Issue
    • Archives
    • Subscribe
    • Crossword
  • Video
  • Podcasts
    • All Shows
    • The Reason Roundtable
    • The Reason Interview With Nick Gillespie
    • The Soho Forum Debates
    • Just Asking Questions
    • The Best of Reason Magazine
    • Why We Can't Have Nice Things
  • Volokh
  • Newsletters
  • Donate
    • Donate Online
    • Donate Crypto
    • Ways To Give To Reason Foundation
    • Torchbearer Society
    • Planned Giving
  • Subscribe
    • Reason Plus Subscription
    • Print Subscription
    • Gift Subscriptions
    • Subscriber Support

Login Form

Create new account
Forgot password

Politics

The Absolute Latest on the War Between Public & Private Sector Workers or, The Next Time Someone Tells You Educators Don't Make Enough, Tell Them About This $26 Million Dollar Man

Nick Gillespie | 6.17.2010 9:07 AM

Share on FacebookShare on XShare on RedditShare by emailPrint friendly versionCopy page URL
Media Contact & Reprint Requests

Via Mark Hemingway's Twitter feed and Michael Barone's Examiner blog comes this nauseating tidbit:

Via Tom Elia of the New Editor, here's a list of the top 100 pensions of Illinois school administrators. The valuations represent the worth of the pension assuming the beneficiary retired at age 56 with a life expectancy of another 29 years. The average value of these pensions is $8.879,257.90. The number one pension goes to Neil C. Codell of Niles Township Community High School District (a suburban area just north of Chicago and just west of the lakefront). Mr. Codell's salary is $885,327 and his estimated first-year pension is $601,978. The pension is valued at $26,661,604.

You got that? More from the original New Editor piece, which headlines its bit "And you thought California's pensions were out of control?" and notes "The total estimated cost of these pensions is almost $1 billion -- at $887,925,790 -- for 100 people!"

Previous discussions of the massive, growing, and unsustainable differences between public and private sector economics.

Start your day with Reason. Get a daily brief of the most important stories and trends every weekday morning when you subscribe to Reason Roundup.

This field is for validation purposes and should be left unchanged.

NEXT: Reason Morning Links: BP, Fannie, Freddie, and the Tel Aviv Tea Party

Nick Gillespie is an editor at large at Reason and host of The Reason Interview With Nick Gillespie.

PoliticsPolicyNanny StateGovernment SpendingEducation
Share on FacebookShare on XShare on RedditShare by emailPrint friendly versionCopy page URL
Media Contact & Reprint Requests

Show Comments (173)

Latest

How Trump's Tariffs and Immigration Policies Could Make Housing Even More Expensive

M. Nolan Gray | From the July 2025 issue

Photo: Dire Wolf De-extinction

Ronald Bailey | From the July 2025 issue

How Making GLP-1s Available Over the Counter Can Unlock Their Full Potential

Jeffrey A. Singer | From the June 2025 issue

Bob Menendez Does Not Deserve a Pardon

Billy Binion | 5.30.2025 5:25 PM

12-Year-Old Tennessee Boy Arrested for Instagram Post Says He Was Trying To Warn Students of a School Shooting

Autumn Billings | 5.30.2025 5:12 PM

Recommended

  • About
  • Browse Topics
  • Events
  • Staff
  • Jobs
  • Donate
  • Advertise
  • Subscribe
  • Contact
  • Media
  • Shop
  • Amazon
Reason Facebook@reason on XReason InstagramReason TikTokReason YoutubeApple PodcastsReason on FlipboardReason RSS

© 2024 Reason Foundation | Accessibility | Privacy Policy | Terms Of Use

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

r

Do you care about free minds and free markets? Sign up to get the biggest stories from Reason in your inbox every afternoon.

This field is for validation purposes and should be left unchanged.

This modal will close in 10

Reason Plus

Special Offer!

  • Full digital edition access
  • No ads
  • Commenting privileges

Just $25 per year

Join Today!