The Civic Federation joined with the Federal Reserve Bank of Chicago on April 23, 2014 to co-host a conference on ways that municipalities in Illinois can avoid or resolve fiscal…
This article discusses Governor Quinn’s recent indication that he would consider increasing the share of State income taxes distributed to local governments if the 2011 income tax rates were made permanent. The Civic Federation recommended…
This article discusses the uncertain status of pension reforms for two City of Chicago funds. The reforms were passed by the Illinois General…
This article discusses the reforms for two city pension funds passed by the Illinois General Assembly earlier in April, which are still waiting…
On April 8, 2014, the Illinois House of Representatives and Senate approved Senate Bill 1922,…
This segment discusses Governor Quinn’s opposition to the property tax component of Chicago’s recent pension reform plan for its…
This article follows the legislative progress of a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. It cites a Civic Federation…
As the legal battle over Illinois’ new pension law continues, courts continue to issue rulings on similar pension changes in other states. Last month, Governor Lincoln D. Chafee, General Treasurer Gina M. Raimondo, and the Federal…
This article reports on a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. Without reforms, both funds face insolvency within 9-17 years…
Chicago Mayor Rahm Emanuel unveiled a proposal to stabilize the City’s underfunded Municipal and Laborers pension funds on March 31. The 40-year plan includes successive property tax increases to provide additional pension funding coupled…
