Trend analysis performed by the Civic Federation shows that the funded status of the Cook County Pension Fund fell again in fiscal year 2011, the most recent year for which data are available. The actuarial funded ratio for the County…
Chicago aldermen are meeting October 1 for a six-hour session detailing the City’s pension funding crisis. The Civic Federation said fixing the broken system will require shared sacrifice from taxpayers, retirees and current employees,…
Officials from the City of Chicago’s five public employee pension funds will brief aldermen on the state of the plans at an October 1st meeting of the City Council’s Workforce Development and Audit Committee.. The Civic Federation said…
The State’s largest retirement system voted on September 21, 2012 to reduce its assumed rate of return on investment, a decision that will increase the annual State contribution required by law beginning in FY2014. The Board of Trustees of…
Since 1988, the City of Chicago and its four pension funds have been party to the settlement of…
This editorial discusses the ongoing struggle many governments face in trying to fund benefits for public-sector employees without cutting public services. The piece stresses the urgency of addressing unsustainable pension costs, citing…
This Tribune editorial focuses on the temporary personal and corporate income tax increases enacted in Illinois in 2011, which are currently scheduled to partially sunset on January 1, 2015. The Civic Federation said the State’s budget is…
The State’s largest retirement system postponed until September a decision on whether to reduce the system’s assumed rate of return on investment — a decision that could result in an increase in the annual State contribution required by…
This Tribune editorial discusses the continued inaction of Illinois legislators on pension reform in the wake of August 17th’s fruitless special legislative session. The editorial cites an estimate from the Civic Federation’s 2010…
