11.13.14
The Civic Federation supports Cook County’s proposed FY2015 operating budget of $3.7 billion for holding the property tax levy relatively flat and not including any new fines or fees....
Library
10.02.14
Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011...
09.26.14
The declining health of public employee pension funds throughout the State of Illinois is primarily due to two causes: inadequate employer contributions over a sustained period and recent investment losses. This blog will discuss the role of investment rate of return in public employee pension...
09.17.14
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post Employment Benefit (OPEB) liabilities of ten large local...
08.26.14
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability . The unfunded actuarial accrued liability (UAAL) is calculated by subtracting the actuarial value of...
08.14.14
The Civic Federation today released its annual estimate of the full value of real estate in Chicago and the Cook County suburbs. After the rate of decline in estimated property values slowed for the County as a whole in 2011, the rate of decline increased again in 2012. Tax year 2012 is the most...
06.26.14
Last week Cook County Clerk David Orr announced upcoming changes to property tax bills that will allow residential and business taxpayers with...
05.28.14
On May 28, 2014, The Civic Federation sent this letter to Representitive Elaine Nekritz and the members of the House Personnel and Pensions Committee in advance of a 4 p.m. hearing on House Bill 1154 . The Civic...
05.21.14
Chicago and Cook County residents who followed the pension debate at the State of Illinois might be surprised by the fact that proposals for pension reform for the City of Chicago...