11.08.13
On October 25, 2013, Moody’s Investors Service downgraded the CTA’s bond rating to A1 from Aa3 and lowered its outlook to negative from stable. This makes it the...
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11.08.13
This report uses nine indicators of financial condition to measure the relative financial performance of Chicago and 12 other major U.S. cities from FY2007 to FY2011. In addition to Chicago, the...
06.27.12
This week the Civic Federation released its annual Status of Local Pension Funding report. This report reviews fiscal year 2010 actuarial valuation reports and financial statements of the retirement funds. [1] The purpose of this report is to...
06.25.12
This report examines the sharp financial decline of Chicago-area public employee pension funds and emphasizes the urgency of pension reform efforts in Springfield. It is intended to provide...
01.11.12
Data from the most recent audited financial statements of Illinois’ state and local government pension funds shows that the total unfunded liabilities for public employee pensions supported by the taxes of Chicago residents reached $14,896 per capita for fiscal year 2010. That is up...
12.21.11
In this latest entry in a blog post series on local government pension funds, the Civic Federation analyzes the Metropolitan Water Reclamation District of Greater Chicago’s pension fund.
The MWRD is the only sanitary district in Illinois to have its own pension fund. All other...
12.01.11
The Chicago Park District is the only park district in Illinois with its own pension fund. All other park districts participate in the Illinois Municipal Retirement Fund . The Chicago Park District pension fund is governed by a seven-member Board of Trustees,...
01.13.10
As the Civic Federation composes its forthcoming Status of Local Pensions Report, we have pensions on our minds. Here’s a quick round up of what’s happening with local pension funds in Chicago and across the State of Illinois, including status updates on commissions, results of...
12.22.09
The redesign of the Civic Federation website in July has provided the public, government officials, and the media better access to the Federation’s analyses of government services in Illinois. The regularly-updated Civic Federation blog especially has provided a constant source of...
12.09.09
As noted on page 9 of its FY2010 Tentative Budget , the Metropolitan Water Reclamation District of Greater Chicago will begin to address concerns over its increasing pension liabilities....