Other Governments

January 15, 2015

Change in Public Pension Plan Investment Return Assumptions 2001-2013

The Civic Federation and IIFS blogs have written extensively about reductions to assumed rates of return on investment by State and some local public pension plans over the last several years. These changes are part of a nationwide trend,…

December 30, 2014

2014 Year in Review on the Civic Federation Blog

The following posts were among the most highly read on the Civic Federation blog in 2014 and represent some of the most closely followed local government issues this year:…

December 10, 2014

Metropolitan Water Reclamation District FY2015 Tentative Budget: Analysis and Recommendations

The Civic Federation supports the Metropolitan Water Reclamation District’s tentative budget of $1.3 billion and praises the organization’s continued use of long-term financial planning to guide its operations and future projects. …

December 3, 2014

Chicago Park District FY2015 Budget: Analysis and Recommendations

The Civic Federation supports the Chicago Park District’s proposed FY2015 operating budget of $448.6 million that accommodates increased employer pension contributions mandated by the District’s 2014 pension reform legislation while…

December 3, 2014

Measuring the Productivity of the Chicago Transit Authority

The Chicago Transit Authority (CTA) recently released its FY2015 proposed budget. While the Civic Federation traditionally analyzes features…

November 18, 2014

Forest Preserve District of Cook County FY2015 Executive Budget Recommendation: Analysis and Recommendations

The Civic Federation supports the Forest Preserve District of Cook County’s FY2015 proposed $187.4 million budget for holding the property tax levy relatively flat and minimizing the use of one-time resources. This balanced budget is very…

November 17, 2014

Chicago Transit Authority President's FY2015 Budget Recommendations: Analysis and Recommendations

The Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2015 budget of nearly $1.4 billion. The budget represents an improved level of fiscal stability made possible by the CTA’s efforts in past years to secure its…

November 12, 2014

Chicago Park District Pension Fund Shows Positive Impact of Pension Reforms

The provisions of Public Act 98-0622 will not go into effect until January 1, 2015, but the changes to Chicago Park District employee and retiree pension benefit levels contained in the legislation have already reduced the fund’s unfunded…

October 1, 2014

Status of Local Pension Funding Fiscal Year 2012

Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011. On average, the ten funds analyzed had an…

September 17, 2014

Pension Funding Basics: Assets and Liabilities

The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post…