Less than a week after the Illinois General Assembly adjourned its regular spring session without approving reform of the State’s underfunded retirement systems, two of the three major rating agencies have downgraded the State’s bond…
This article discusses the impending expiration of the ‘pension holiday’ granted to Chicago Public Schools by the Illinois General Assembly and the resulting $400 million increase in the District’s required pension contribution for FY2014…
Following the General Assembly’s failure to enact comprehensive pension reform before adjourning its spring session on May 31, Illinois’ credit rating was downgraded again by Fitch Rating to A- with a negative outlook from A. The Civic…
As the Illinois General Assembly approached its scheduled adjournment date of May 31, 2013, the State’s pension systems produced new reports estimating the financial impact of proposed pension legislation. The reports by the retirement…
The Civic Federation’s Status of Local Pension Funding Fiscal Year 2011 report released May 21 found an aggregate unfunded liability of $32 billion in the ten…
This article covers the Status of Local Pension Funding Fiscal Year 2011 report released by the Civic Federation May 21. The annual report examining ten…
This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…
Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an increase of 16.7% according to the most…
(CHICAGO) A Civic Federation report released today examines the continued funding decline of Chicago-area public employee pension funds. Unfunded liabilities for the ten funds analyzed in the report increased to $32.0 billion in fiscal…
This segment discusses an internet gambling proposal sponsored by Senate President John Cullerton. The Civic Federation maintains its…
