11.03.11
The Civic Federation supports the Cook County FY2012 Executive Budget Recommendation totaling $2.9 billion. Cook County Board President Toni Preckwinkle’s proposed $2.2 billion General Fund...
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11.02.11
The Civic Federation supports the proposed FY2012 City of Chicago budget of nearly $6.3 billion because it takes effective action to reduce the City’s structural deficit through significant...
11.01.11
The Cook County pension fund actuarial value funded ratio has fallen from 88.9% to 60.7% over ten years. The unfunded accrued actuarial liabilities have reached $5.2 billion or $993 per Cook County resident.
While the County’s pension fund is not yet in quite as dire straits as...
10.21.11
The Civic Federation supports the DuPage County Proposed FY2012 Financial Plan of $434.7 million. The County is reducing expenditures for the third year in a row while pledging to maintain the...
10.18.11
The pension crisis at the City of Chicago is severe. As described here , the City faces two distinct pension crises: two of its four funds are expected to run out of money by the year 2030...
08.22.11
The Civic Federation supports the Chicago Public Schools proposed $5.9 billion budget for FY2012, which is an increase of 1.5%, or $87.0 million, from the year-end estimates of FY2011. The...
08.17.11
In its fiscal year 2012 budget proposal, the Chicago Public Schools administration provided for the first time a three-year projection of its future financial situation on page 9 . The...
08.02.11
The Chicago Teachers’ Pension Fund accumulated nearly $5.4 billion in unfunded obligations over the past ten years. This was an increase of over 10,000%, from $5.1 million in FY2001 to $5.4 billion in FY2010. In three years alone, from FY2008 to FY2010, unfunded liabilities grew by $2.3...
06.30.11
The purpose of this report is to provide the City of Chicago’s Mayor and City Council with detailed recommendations on ways to address the City’s serious financial challenges and...
05.16.11
An actuarial projection of the future solvency of the Chicago Park District’s pension fund has estimated that the fund will exhaust its assets in the year 2025. [1] The projection takes into...