This article reports on a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. Without reforms, both funds face insolvency within 9-17 years…
Chicago Mayor Rahm Emanuel unveiled a proposal to stabilize the City’s underfunded Municipal and Laborers pension funds on March 31. The 40-year plan includes successive property tax increases to provide additional pension funding coupled…
This article discusses Illinois’ March 11 sale of taxable revenue-backed bonds in the context of the State’s temporary income tax increase scheduled to rollback in January 2015. It cites the Civic Federation’s recommendation to gradually…
This editorial highlights the recommendations in the Civic Federation’s State of Illinois FY2015 Budget Roadmap and calls the Federation’s plan a thoughtful, comprehensive…
This editorial examines the Civic Federation’s State of Illinois FY2015 Budget Roadmap and calls the Federation’s plan a “reasonable and balanced approach” to addressing…
This article focuses on the Civic Federation’s recommendation for Illinois to include federally taxable amounts of retirement income in its income tax base. Of the 41 states that impose an income tax, Illinois is one of only three that…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive plan for achieving long-term fiscal sustainability for the State of Illinois. The five-year plan would fully pay down…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. The report reviews Governor…
This article discusses today’s action by the Arizona Supreme Court ruling pension changes for its retired judges unconstitutional. Illinois’…
This article examines Chicago’s growing debt load due to unfunded pension liabilities and ongoing borrowing. The Civic Federation said Chicago’s level of debt is unsustainable and the City is short on time to find a solution. The article…
