Civic Federation Blog Archive: November 2011
The Forest Preserve District of Cook County is the only forest preserve district in Illinois to have its own pension fund. All other forest preserve districts participate in the Illinois Municipal Retirement Fund. The Forest Preserve District pension fund is governed by the nine-member Board...
In its Recommendations for a Financially Sustainable City of Chicago, the Civic Federation recommended that the City’s election function be transferred to Cook County. Consolidated election administration is the norm in Illinois. The Federation identified two primary benefits of such a merger:
The Chicago Transit Authority Board will vote on CTA President Forrest Claypool’s FY2012 Budget Recommendations on November 15, 2011. The proposed $1.2 billion operating budget closes a preliminary budget shortfall of approximately $277 million, which was driven by $81 million in expenditure...
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.