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…
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…
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability. The unfunded actuarial accrued liability (UAAL)…
The Civic Federation supports the City Colleges tentative FY2015 budget totaling $723.5 million for reflecting the District’s continued commitment to sound financial practices and prudent planning. The FY2015 tentative budget holds the…
On May 28, 2014, The Civic Federation sent this letter to Representitive Elaine Nekritz and the members of the House Personnel and Pensions Committee in advance of a 4 p.m. hearing on…
Chicago and Cook County residents who followed the pension debate at the State of Illinois might be surprised by the fact that proposals for pension reform for the…
The consolidation and dissolution of local units of government has been the subject of much discussion recently in Illinois. The purpose of this blog post is to briefly summarize a recent report released by the Illinois Local Government…
In 2013 President Preckwinkle formed a blue-ribbon commission of local leaders to develop the Next Century Conservation Plan…
As a follow-up to the Capital Planning Overview, this blog post summarizes information contained in the Civic Federation’s FY2014…
The following posts were among the most highly read on the Civic Federation blog in 2013 and represent some of the most closely followed local government issues this year:…
