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Pensions

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State Pension Facts: The Cost of COLAs for Illinois Teachers

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…

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MWRD Retirement Fund

UPDATE: On Friday, August 3, 2012, Governor Quinn signed into law the pension reforms for the Metropolitan Water Reclamation District Retirement Fund as Public…

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A red-letter day in pension debate

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,…

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Emanuel makes pension pitch at Capitol

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…

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Rahm’s pension reform: Freeze retiree pay hikes, up retirement age

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…

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Mayor Emanuel Proposes Significant Pension Reform

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…

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Governor's Proposed Budget Would Put Illinois Finances on Path to Recovery; First budget since the crisis began to offer real solutions to the State’s problems

(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…

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State of Illinois FY2013 Recommended Operating and Capital Budgets: Analysis and Recommendations

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…

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From Michigan to Illinois to Ohio, teacher pension problems—and changes—fuel political debate

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…

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What are the Rhode Island Pension Reforms?

Public officials and opinion leaders in Illinois have expressed much interest in the landmark pension reforms approved in Rhode Island in 2011. Chicago Mayor Rahm Emanuel…