This issue brief describes and explains the term "actuarially required contribution" (ARC) and compares the amount of annual contributions actually made to some of the major public pension funds in Illinois to their ARCs.
This issue brief describes dedicated revenue sources for state pension funds and recent proposals for dedicated revenue sources in Illinois. It then discusses important features of an effective dedicated pension revenue source.
The Civic Federation's legislative priorities for 2007 include public pension reform, property tax exemptions and assessment reform, revision of the Regional Transportation Authority Act, tax increment financing disclosure, timely county…
The Civic Federation offers qualified support for Cook County’s FY2007 Budget based on the County’s plan to meet its 502 million dollar budget deficit with substantial spending cuts rather than tax increases. The Civic Federation opposes,…
The Civic Federation supported the MWRD's FY2007 Budget because it minimizes the burden on taxpayers and implements sound financial planning techniques. Notably, the MWRD has adopted a policy establishing an irrevocable trust for funding…
The Civic Federation supported the Chicago Park District's FY2007 Budget because the District did not raise its property tax levy this year, and has held down operating costs through a combination of careful management practices,…
The Civic Federation supports DuPage County's FY2007 budget because the County has reduced spending by over twenty-five percent since 2003, and has focused on cost reduction before seeking revenue increases. The Civic Federation cautions…
The Civic Federation opposes the CTA's FY2007 budget because it relies on 110 million dollars in additional state support which has not been guaranteed, and provides no detailed contingency plan. The Federation recommends that the CTA…
The Civic Federation supports the Forest Preserve District's proposed 164.5 million budget because the District has made important steps toward professionalization of its operations, including the issuance of a Capital Improvement Plan.…
The Civic Federation supports the City of Chicago's proposed $5.7 billion budget but has serious concerns about the poor health of the City's pension funds and the low level of reserve funds for contingencies.
