This report examines the sharp financial decline of Chicago-area public employee pension funds and emphasizes the urgency of pension reform efforts in Springfield. It is intended to provide policymakers, pension trustees, pension fund…
In light of the State of Illinois’ pension funding crisis, it has become more widely understood that the annual Cost of Living Adjustment, or COLA, plays a large role…
This article discusses the progress of pension reform efforts in the final days of the Illinois General Assembly’s regular session. The Civic Federation said the reforms being considered would be an improvement over the current situation,…
Mayor Rahm Emanuel addressed the Illinois House Personnel and Pension Committee on May 8 with a plan to reform the City of Chicago’s pension…
Mayor Rahm Emanuel addressed the Illinois House Personnel and Pension Committee on May 8 with a plan to reform the City of Chicago’s pension funds. The Mayor’s proposal includes a five-year increase in retirement age and a ten-year…
On Tuesday, May 8, 2012, Mayor Rahm Emanuel offered a plan to reform pensions for employees of the City of Chicago, Chicago Public Schools and Chicago Park District during a hearing of the Illinois House of Representatives Personnel and…
(CHICAGO) In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability supports Governor Quinn’s proposed budget for FY2013. The $57.4 billion budget proposal acknowledges the depth of the State’s…
The Civic Federation supports Governor Pat Quinn’s $57.4 billion FY2013 recommended operating budget, because it acknowledges the depth of the State’s financial problems and would put Illinois finances on the road to recovery with major…
This article compares underfunding of the Michigan Public Employee Retirement System with similar crises affecting other teacher and public-employee pension systems in the Midwest. The Civic Federation spoke about the financial crisis…
