On March 20, 2013, the Illinois Senate rejected a proposal designed to significantly reduce the State's burdensome pension costs but approved a narrower measure that applies only to active teachers outside of the City of Chicago.…
This article discusses securities fraud charges filed by the U.S. Securities and Exchange Commission against the State of Illinois. The charges discuss factors contributing to the State’s pension funding crisis including a 1994 law…
This article covers a vote by the Chicago police sergeants union to reject a proposed contract agreed on by the City of Chicago and sergeants union representatives.…
This segment covers the U.S. Securities and Exchange Commission’s charge against Illinois for allegedly misleading investors between 2005 and 2009 about the level of underfunding of its pension systems. The Civic Federation said the…
This article discusses the State of Illinois’ settlement with the U.S. Securities and Exchange Commission (SEC) over charges that it misled investors between 2005 and 2009 about the degree of underfunding in its employee pension funds. The…
A bipartisan group of Illinois lawmakers has signed onto a new pension reform proposal designed to reduce the State’s massive pension costs.…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, which projects that Illinois’ pension costs would consume nearly one-third of State-…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, released February 25. The report projects a $22 billion backlog of unpaid bills by…
