Despite the General Assembly’s goal to pass a budget for FY2011 and adjourn by May 7, 2010, legislators headed home after the session ended with no budget and no clear path out of the State’s current woeful financial situation. Although…
There are over 3200 public pension board trustees governing 657 separate public pension funds in the State of Illinois…
The City of Chicago released the final report of the Commission to Strengthen…
The Civic Federation opposes Governor Pat Quinn’s $52 billion FY2011 recommended operating budget for the State of Illinois because it is unbalanced and does too little to address the State’s fiscal crisis. The Governor’s recommended…
The Civic Federation supports the Illinois General Assembly’s first steps toward comprehensive public pension reform in Illinois and urges state leaders to implement further reforms. On Wednesday, March 24, 2010, the Illinois General…
The Civic Federation supports the Illinois General Assembly’s first steps toward comprehensive public pension reform in Illinois and urges state leaders to implement further reforms. On Wednesday, March 24, 2010, the Illinois General…
All ten Chicago-area local government pension funds analyzed annually by the Civic Federation had negative investment returns in fiscal year 2008 for a total investment…
The total unfunded liabilities of the ten major Chicago-area public pension funds reached $18.5 billion in fiscal year 2008. That is an increase…
As reported in the Civic Federation’s latest report on ten local government pension funds, the most recent audited financial statements of the…
Major Reforms Necessary to Avert Insolvency The Civic Federation’s annual report on the finances of ten Chicago-area public pension funds, released today, shows their aggregate funding deficit reached $18.5 billion in fiscal year 2008.…
