10.22.14
The total unfunded liabilities for the State and local public employee pensions that Chicago residents fund reached $19,579 per capita for fiscal year 2012. That is up from $6,175 per capita in FY2003.
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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...
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...
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...
10.09.13
Four large local government pension funds in the Chicago area reduced their expected investment rates of return for fiscal year 2012. While intended to make the funds’ actuarial assumptions more realistic, these decisions will also have the effect of increasing the funds’ liabilities...
12.30.11
In 2011 the Civic Federation blog provided weekly context, information and perspective on government budgets and fiscal issues across Illinois. Posts in 2011 focused on FY2012 local government budget analysis and the severe challenges facing local government pension funds, as well as a series...
12.29.11
In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension crisis and timely research on other fiscal issues impacting...
12.14.11
Last week marked the end of the budget season for the nine local governments monitored by the Civic Federation. These governments include: the City Colleges of Chicago, Chicago Public Schools, DuPage County, City of Chicago, Cook County, Chicago Transit Authority, Forest Preserve District of...
12.09.11
This week marks the end of the Civic Federation's fiscal year 2012 local government budget analysis season. The nine local governments monitored by the Civic Federation include: City Colleges of Chicago, Chicago Public Schools, DuPage County, City of Chicago, Cook County, Chicago Transit...