The Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion FY2013 operating budget which drains all General Fund reserves to help close a $665 million budget deficit and leaves the District with no identifiable…
As public pension liabilities around the nation continue to grow, public officials and pension fund boards are looking into alternatives to traditional defined benefit (DB) pension plans. Two kinds of “hybrid” retirement plans have…
This week the Civic Federation released its annual Status of Local Pension Funding report. This report reviews fiscal year 2010 actuarial valuation reports and financial statements of the retirement funds.…
The Illinois International Port District has requested an audit of its operations along and has commissioned a “strategic and capital needs study.” A 2008 Civic Federation report called for…
Civic Federation President Laurence Msall joined State Senators Matt Murphy and Michael Noland to discuss solutions for the City and State pension crises. The Civic Federation’s June 25th report on local pensions found that the ten Chicago…
This article highlights key facts from the Civic Federation’s Status of Local Pension Funding FY2010 report that was released on June 25. The report found that the ten Chicago-area public employee…
This article covers the Civic Federation’s Status of Local Pension Funding FY2010 report that was released on June 25. The report examines the sharp financial decline of ten Chicago-area public…
(CHICAGO) A Civic Federation report released today examines the sharp financial decline of Chicago-area public employee pension funds and emphasizes the urgency of pension reform efforts in Springfield. The ten funds analyzed in the report…
This report examines the sharp financial decline of Chicago-area public employee pension funds and emphasizes the urgency of pension reform efforts in Springfield. It is intended to provide policymakers, pension trustees, pension fund…
In light of the State of Illinois’ pension funding crisis, it has become more widely understood that the annual Cost of Living Adjustment, or COLA, plays a large role…
