Ask Illinois Lawmakers to Vote to End Golden Parachutes
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We have faced years of budget deficits and debt, cuts to social services, and tax increases. We also foot the bill for expensive severance packages for public executives who are asked to leave their jobs under questionable circumstances, often with little transparency about what is prompting the deal. Recent exorbitant severance packages, or golden parachutes, have cost taxpayers millions of dollars. Since 2009, the BGA’s Policy & Civic Engagement team tallied at least 12 such deals that cost taxpayers more than $5.5 million. Reform is needed to rein in these payouts, stop the abuse, and restore accountability.
SB 3604 is a common-sense approach to ending this practice. This bill will stop public executives fired for misconduct from collecting a severance altogether and it will limit severance for others not found to have committed misconduct to a maximum of 20 weeks’ compensation. The legislation gives governments in Illinois the ability to remain competitive, while eliminating abuses that fuel taxpayer distrust.
Please let your state representatives know you support this measure.
Reform is needed to rein in these payouts, stop the abuse, and restore accountability.