Who can blame them? I’m thinking about moving out of Illinois too. I mean it is obvious that the politicians in IL are not going to solve the real long-term pension problem which is an unfunded pension liability of $200 billion plus. In fact they aren’t going to solve a much smaller problem that does not exist – a $95 billion unfunded liability. What they are going to solve is a serious political problem – how to declare victory over the pension problem this year, get Lisa Madigan elected governor next year and kick the pension down the road even further.
All of which means much higher taxes for IL citizens as their incomes get whiplashed by internet sales taxes, increased income taxes, increased property taxes and soon sales taxes on services. So that is taxpayers must pay the pensions with taxes, taxes, taxes and more taxes. Missouri is looking better and better.
So where do the brunt of the retired teachers move to? Florida of course which has no income taxes. Good choice.
Here is the list by state:
|State||Retirees||Total Annual Benefit|