08.31.16
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...
Library
01.15.15
The Civic Federation and IIFS blogs have written extensively about reductions to assumed rates of return on investment by State and some local public pension plans over the last several years. These changes are part of a nationwide trend, influenced partly by the low interest rate environment...
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...
05.15.14
New actuarial reports released by the Cook County Pension Fund this month show a slight improvement in the Fund’s financial position in 2013 due to better than expected...
09.26.13
Since July 2013 each of the six local governments monitored by the Civic Federation with General Obligation bond debt has experienced downgrades to their bond ratings. These governments are the City of Chicago, Cook County, the Metropolitan Water Reclamation District (MWRD), the Forest Preserve...
12.26.12
A look back at the Civic Federation’s blog this year provides a preview of upcoming fiscal challenges for local governments in 2013.
Pension Funding The most urgent fiscal challenge for Illinois governments continues to be the pension funding crisis. The combined funded ratio for...
12.20.12
Last week the Civic Federation marked the end of the FY2013 budget season with a blog that summarized the proposed budgets for the nine local governments the Federation monitors. These governments include: the City Colleges of...
12.05.12
The Civic Federation supports the $410.9 million FY2013 Chicago Park District budget for limiting spending increases and continuing the District’s effort to eliminate its structural deficit...
11.07.12