Federation Calls Gaming Bill a Major Distraction from Pension Reform The Civic Federation supports Governor Pat Quinn’s veto of Senate Bill 1849, which would authorize casino gambling in Chicago and significantly expand gambling in other…
In a report released today, the Civic Federation supports the $190.3 million proposed FY2013 Forest Preserve District of Cook County budget for its discipline in identifying non-tax revenue sources as an alternative to increasing the…
(The full content of this article is available only to the publication’s subscribers.) This article covers the Civic Federation’s updated analysis of Illinois’ pension…
The financial condition of the State of Illinois’ five retirement systems worsened in FY2012, with the systems’ total unfunded liability growing to $96.8 billion as of June 30, 2012 and the combined funded ratio declining to 39.0%. The…
This article cites an IIFS blog post that the State’s total contribution to its five retirement systems will need to increase by nearly $1…
The State of Illinois needs to contribute a total of $6.8 billion to its five retirement systems in FY2014 to meet statutory funding requirements, according to recent recommendations by the five systems. The proposed total FY2014…
The Civic Federation supports the City of Chicago’s FY2013 proposed $6.5 billion budget which reduces the City’s reliance on one-time revenue sources while restructuring City government through better managing personnel expenditures.…
This editorial discusses Moody’s Investor Service’s most recent downgrade CPS in the wake of a new labor contract for teachers and rising pension costs. The Civic Federation says CPS cannot afford to wait for leadership from the Illinois…
The State of Illinois’ largest pension fund recently revised several key assumptions that affect the fund’s financial condition and the contributions that must be made by the State under Illinois law. As discussed…
