2 Investigators, BGA: 'Prince Of Pensions' On Rauner Transition Team
(CBS) -- Bruce Rauner campaigned on the promise of government reform and fixing Illinois' pension system, saying in one campaign commercial, "Springfield is broken, $8,000 of public pension debt for every man, woman and child. We have to fix this broken system before we go broke."
But CBS 2 and the Better Government Association found that Rauner appointed Glenn Poshard, a 1998 candidate for governor, to his transition team, even though Poshard's government pensions are among the highest in Illinois.
"Governor-elect Rauner could probably learn a lot about how to reform the pension system by looking at the ways in which Glenn Poshard used loopholes to enrich his own pension," said Andy Shaw, CEO of the Better Government Association.
After leaving politics Poshard was paid more than $300,000 a year as President of Southern Illinois University. He also collected more than $100,000 in state pensions, a total of $400,000 a year until he retired last May.
It's a practice the BGA calls "double dipping."
"You shouldn't be able to have a job in government and collect a pension at the same time," Shaw said. "It should be one or the other. Taxpayers should not be hit with a double whammy."
Poshard has worked as a teacher, was appointed to two state university posts and was elected to the Illinois Senate. As a result of his state jobs over the last 30 years he now collects a $76,910 pension from the General Assembly Retirement System, $65,594 from the State Universities Retirement system, and $47,475 from the Teachers Retirement System of Illinois for a total of $189,979 a year.
"We describe him as the prince of pensions because of his ability to maximize his pension benefits," said BGA Investigator Sandy Bergo.
According to BGA calculations Poshard was able to maximize his benefits with credit for more than a year and a half of unused sick time, credits now worth about $8,500 a year in pension benefits.
Poshard left the state senate in 1998, 23 months before his term was up after being elected to the U.S. Congress. After he paid $7,860 to the General Assembly Retirement system he got pension credit for that unserved time.
"Right now those extra two years of time are worth about $20,000 a year in extra pension benefits for him," said BGA investigator Chuck Neubauer.
Although Poshard did not win his 1998 race for governor, his $189,979 in state pension benefits is more than the $177,412 that outgoing Gov. Pat Quinn makes in a year.
And the cherry on top? For his time as a U.S. Congressman Poshard earns another $15,000 a year federal pension. Grand total: $204,979.
"We are not suggesting that Glen Poshard has broken any laws or even done anything unethical," Shaw said.
"Glenn Poshard is the poster child for what's wrong with the pension system and it's time to close those loopholes."
Poshard says he was grateful for every job he has held, worked hard and never shortchanged the state or tried to game the system.
In a written statement Poshard also said, "I am very appreciative for the retirement benefits I now receive which were determined by the laws in place at both the state and federal levels. If some of those laws need to be changed in order to more fully fund the pension system, as I myself have advocated before the legislature, then I am more than happy to see a reduction in my own retirement benefits."
A spokesman for Governor-elect Rauner said Poshard has "a tremendous amount of knowledge about southern Illinois as well as the university system" and that his voluntary role with the transition team will not be "focused on pension issues."
