Nearly 6,000 Retired Illinois Teachers Made Six-Figure Pensions in 2014

Nearly 6,000 Retired Illinois Teachers Made Six-Figure Pensions in 2014 | Pension360:
"But in Illinois, the number of $100,000 pensions for public school teachers is rising rapidly.
Six-figure pensions for public school teachers and administrators are up over 60 percent from 2012, when 3,458 retired teachers received $100,000-plus pensions from the state, according to pension records obtained by Pension360.
These pensions were usually awarded to very long-term workers.
The average tenure of a six-figure pensioner was 35 years.
Thus, a teacher who joined the system at the age of 22 would be 57 years old before collecting a $100,000 annual check.
Illinois’ unfunded pension liabilities ballooned to an official $111 billion across all systems in 2014 – a 17 percent increase since 2012, according to the state’s Commission on Government Forecasting and Accountability.
The total liability is about $200 billion, nearly half of which is secured with the money held by Illinois pension funds."