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...
09.26.14
As recently as 2011, the State of Illinois projected its backlog of unpaid income tax refunds could increase to more than $1.0 billion but by the end of FY2014 nearly all refunds were paid. In FY2015, for the...
08.27.14
Businesses do not always pay their bills immediately, and neither do governments. Delays of a month or two are standard practice, although prompt payment is preferable to take advantage of discounts,...
06.19.14
Under Illinois law , the State is required to share a certain portion of state income tax receipts with municipal and county governments in Illinois through the Local Government Distributive...
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...
01.29.14
The State of Illinois’ new pension law is expected to reduce statutorily required State contributions by $144.9 million over 30...
01.22.14
Since the Civic Federation’s last blog on changes to taxes imposed on tobacco purchases, Chicago area local governments have increased tobacco tax rates, which will have an impact on Chicago...
