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Pensions

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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…

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Largest State Pension Fund Calls for Major Reforms in FY2013

The Teachers’ Retirement System of the State of Illinois (TRS) has concluded that it can no longer rely on the State to follow the law for funding its five retirement systems and that sweeping changes are needed to sustain the pension…

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New Website Could Help Pressure Lawmakers, Employees To Fix Pensions

This segment discusses a new report and website illustrating the magnitude of Cook County’s pension crisis…

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Cook County also faces pension funding gap, new analysis says

This article discusses a report released April 9 by Cook County Commissioner Bridget Gainer that outlines how Cook County’s pension fund will go broke in 26 years without immediate reforms. The Civic Federation applauds Commissioner Gainer…

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Illinois State ‘on Brink of Collapse’

(The full text of this article is available only to the publication's subscribers.) This overview of Illinois’ fiscal challenges focuses on rising costs in the State’s Medicaid program and pension systems. The article cites the Civic…

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Governor’s FY2013 Budget Acknowledges Depth of Financial Crisis

On February 22, 2012, Governor Pat Quinn presented his administration’s fourth annual budget for the State of Illinois. The …

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Illinois' Quinn Stresses Pension and Medicaid Reform

This article discusses Governor Quinn’s call to stabilize the State’s pensions and restructure the Medicaid program. The article cites the Civic Federation’s projection that, without action, the State’s unpaid bills could rise to $34.8…

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Time for Illinois to save Honest Abe's reputation

In advance of Governor Pat Quinn's budget address on February 22, this op-ed by Civic Federation President Laurence Msall discusses Illinois' damaged fiscal reputation. The piece offers recommendations for stabilizing the State's finances…

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Senate Hearing Sets Stage for Governor’s FY2013 Budget Recommendation

A week before Governor Pat Quinn’s FY2013 budget address, a panel of Illinois State senators met in Chicago to hear testimony on the State’s major budget challenges: rising Medicaid costs and unfunded pension liabilities. The Senate’s two…

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Illinois Faces Financial Disaster; Urgent Need for Medicaid and Pension Reforms

(CHICAGO) The Civic Federation’s Illinois research institute warns that Illinois could face an unprecedented $34.8 billion backlog of unpaid bills if action is not taken immediately by the Governor and General Assembly to stabilize the…