Pensions

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Next CPS budget will have an even bigger hole to fill: $800 million

This article discusses the current $480 million CPS budget shortfall, impacts of the budget gap and proposed short-term solutions. President of the Civic Federation, Laurence Msall, remarked on the necessity of a long-term plan to help…

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Governor’s Budget Projection Shows Growth in Unpaid Bills

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2015 Year in Review on Civic Federation Blog

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Illinois Record Budget Impasse Makes It Worse for the State's Pension Disaster

This article discusses the state of Illinois ending calendar year 2015—six months into FY2016—without a budget. With the current budget impasse, spending plans have driven up borrowing costs, the state’s credit rating has sunk and…

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2015 Year in Review for Institute for Illinois’ Fiscal Sustainability Blog Posts

The following were among the most highly read posts provided by the Institute for Illinois’ Fiscal Sustainability in 2015. Understandably, they represent the most closely followed Illinois fiscal issue of the year: the ongoing state budget…

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FY2016 Budget Season Summary

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Chicago Teachers Union Votes to Authorize Strike

This article discusses the Chicago Teachers Union’s recent vote to authorize a strike. If the strike were to happen, it would be the second strike in three years. Civic Federation President Laurence Msall explained that the District’s…

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MWRD of Chicago Budget Praised

This article covers the Civic Federation’s December 3 analysis of the FY2016 Metropolitan Water Reclamation District Tentative Budget. The Federation…

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Civic Federation Supports Metropolitan Water Reclamation District's FY2016 Tentative Budget

In an analysis released today, the Civic Federation announced it supports the Metropolitan Water Reclamation District’s Tentative FY2016 budget of $1.21 billion. The District proposes a reasonable, balanced budget while maintaining ample…

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Metropolitan Water Reclamation District FY2016 Tentative Budget: Analysis and Recommendations

The Civic Federation Supports the Metropolitan Water Reclamation District’s tentative budget of $1.21 billion for being reasonable and balanced while maintaining ample reserves and for its fiscal responsibility in properly funding pensions…