09.19.12
Since 1988, the City of Chicago and its four pension funds have been party to the settlement of City of Chicago v. Korshak regarding how...
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07.19.12
The Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion FY2013 operating budget which drains all General Fund reserves to help close a $665 million budget deficit and...
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...
06.13.12
UPDATE: On Friday, August 3, 2012, Governor Quinn signed into law the pension reforms for the Metropolitan Water Reclamation District Retirement Fund as Public Act 097-0894 .
This blog post provides...
05.10.12
On Tuesday, May 8, 2012, Mayor Rahm Emanuel offered a plan to reform pensions for employees of the City of Chicago, Chicago Public Schools and Chicago Park District during a hearing of the Illinois House of Representatives Personnel and Pensions Committee.
The Civic Federation is...
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...
12.30.11
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...
12.21.11
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...