Pension Funding Basics: Unfunded Liabilities as a Percentage of Payroll
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability. The unfunded actuarial accrued liability (UAAL)…
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability. The unfunded actuarial accrued liability (UAAL)…
The Civic Federation supports the City Colleges tentative FY2015 budget totaling $723.5 million for reflecting the District’s continued commitment to sound financial practices and prudent planning. The FY2015 tentative budget holds the…
On May 28, 2014, The Civic Federation sent this letter to Representitive Elaine Nekritz and the members of the House Personnel and Pensions Committee in advance of a 4 p.m. hearing on…
Chicago and Cook County residents who followed the pension debate at the State of Illinois might be surprised by the fact that proposals for pension reform for the…
The consolidation and dissolution of local units of government has been the subject of much discussion recently in Illinois. The purpose of this blog post is to briefly summarize a recent report released by the Illinois Local Government…
In 2013 President Preckwinkle formed a blue-ribbon commission of local leaders to develop the Next Century Conservation Plan…
As a follow-up to the Capital Planning Overview, this blog post summarizes information contained in the Civic Federation’s FY2014…
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Last week marked the end of the FY2014 budget season for the eight local governments monitored…