11.25.14
Shortly after a Sangamon County Circuit Court Judge ruled that the pension reform law passed in Illinois almost a year ago violated the State constitution, Attorney General Lisa Madigan announced...
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06.26.14
UPDATE: In addition to the Teachers’ Retirement System (TRS), two other large State of Illinois pension funds have also lowered their assumed rates of return on investment.
Both the State Universities Retirement System (SURS) and the State Employees’ Retirement System (SERS) recently...
05.13.14
The Civic Federation opposes Governor Pat Quinn’s recommended budget for FY2015 because it uses revenue from extending the 2011 temporary income tax increase for new spending. The State...
05.09.14
As part of the FY2015 budget recommendation for the State of Illinois, Governor Pat Quinn provided two separate five-year projections for both “...
03.28.14
On March 26, 2014, Governor Pat Quinn presented an FY2015 budget proposal for the State of Illinois that avoids a fiscal cliff by retaining temporary income tax increases that were scheduled to be phased out beginning in...
03.03.14
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of...
02.28.14
The Illinois House of Representatives has approved a revenue projection for the coming fiscal year that includes a $2.2 billion loss in operating resources for FY2015, after a holding series of committee meetings to deliberate varying estimates.
The General Funds revenue estimate...