Illinois taxpayers are off the hook for Michael Madigan’s future pension payments, now that the former Illinois House speaker has been convicted of corruption.
Madigan, a Democrat, has received payments from the General Assembly Retirement System (GARS) since he retired in 2021 after 50 years in the Statehouse.
When a GARS retiree is convicted of a felony, the benefit is suspended the first of the month following the conviction. A GARS spokesman told The Center Square, “This is generally the earliest we can stop benefits as the monthly payments are finalized the 8th or 9th day of a given month.
According to the Illinois Policy Institute, Madigan collected a pension worth $158,027 in 2024 and received $580,811 between his retirement in 2021 through 2024.
Pursuant to state statute and board policy, GARS does not recoup benefits paid before a conviction.
Illinois Policy Institute Assistant Editor Dylan Sharkey said it shouldn’t be that way.
“Although he was just convicted now, he was convicted of crimes from years ago, well before he retired, meaning that he should have to pay back what he’s already been paid out, that $580,000,” Sharkey told The Center Square.
Madigan’s pension contributions were $352,345 over the course of his legislative career. Sharkey said his lifetime benefit was estimated at about $1.65 million before Wednesday’s conviction.
According Sharkey, lawmakers are not likely to change a system that favors them over the taxpayers.
“Illinois’ pensions are famously underfunded. The General Assembly Retirement System is actually one of the best-funded, which is even less of a reason for lawmakers to act on the pension crisis, because it doesn’t affect their personal lives,” Sharkey said.
Judge John Robert Blakey has scheduled Madigan’s forfeiture bench trial for May 5. After his conviction on 10 corruption-related charges Wednesday, Madigan faces potential forfeiture of some assets because he benefited off of his crimes.
Sharkey said it is time for Madigan to pay back what he owes the people of Illinois.
“There’s definitely a million dollars that should be up for grabs that taxpayers are owed, because his conviction was directly related to his work. Had he been convicted of crimes that were unrelated to his office, it would be a completely different story,” Sharkey said.
The jury convicted Madigan on 10 counts of bribery, conspiracy, wire fraud and use of a facility to promote unlawful activity. Government attorneys said the former speaker repeatedly violated the public trust.
A sentencing date has not been scheduled.
