This article discusses the withholding of City of Harvey funds by the Illinois Comptroller in response to continued underfunding of Harvey's public safety pensions. Following the intercept, the City laid off nearly half of its…
This article discusses the ruling to overturn funding reforms for the Chicago Park District’s pension system. As part of the ruling, increased employee contributions will have to be repaid with interest, and the District will have to…
Illinois Governor Bruce Rauner presented his annual budget address on February 14, 2018, outlining his…
Click here to read the full report. Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’…
This article discusses a proposal before the Illinois legislature’s personnel and pension committee to borrow $107 billion to put toward the $129 billion in unfunded pension liability. Civic Federation president Laurence Msall said that…
After stabilizing due to legislative changes, Illinois’ contributions to its severely underfunded retirement…
Following Mayor Rahm Emanuel’s FY2018 budget address, Civic Federation President Laurence Msall spoke with a pool of reporters on the City of Chicago’s finances. He said the Mayor’s budget is a reasonable plan that can move the City…
After several iterations and much disagreement, the State of Illinois now has a new statewide school funding formula. The Illinois General Assembly approved the new formula as Senate Bill 1947, House Floor Amendment 5 on August 29, with…
In this segment, Civic Federation President Laurence Msall discusses key aspects of the State of Illinois’ FY2018 budget and the challenges the State still faces. He says the most important aspect of Illinois having a budget is that it…
