11.08.18
2019 Civic Federation Legislative Priorities The Civic Federation's...
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12.07.16
The Civic Federation supports the Chicago Park District’s proposed FY2017 operating budget of $449.4 million because it continues to reduce the District’s reliance on fund balance to close its...
12.18.15
FY2016 Budget Season Summary
December 3, 2015 marked the end of the budget season for the eight local governments monitored by the Civic Federation. These governments include: the City Colleges of...
02.12.15
The Civic Federation’s previous blog examined the long-term debt of eight major local governments in northeastern Illinois.
This blog explores the unfunded pension liabilities of...
11.12.14
The provisions of Public Act 98-0622 will not go into effect until January 1, 2015, but the changes to Chicago Park District employee and retiree pension benefit levels contained in the legislation have already reduced the fund’s unfunded liability by $109.4 million or 18.5% and increased the...
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...
09.17.14
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...
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...
12.30.13