This article discusses how recent changes to expected rates of return and other factors for several of the State of Illinois’ pension funds are increasing pressure on the State to address reforms. Civic Federation President Laurence Msall…
This article analyzes the connection between pension debt and major tax increases among selected U.S. states and municipalities. Civic Federation President Laurence Msall notes that the percentage of state source revenue going to Illinois…
Decisions by two of the largest State of Illinois pension funds to reduce their expected rates of return on investment have …
Recent decisions by two of the largest State of Illinois retirement systems are expected to result in significant increases to statutorily required pension contributions in the upcoming budget year. This blog post discusses the decisions…
The Chicago Board of Education approved a reinstated dedicated pension levy as part of the Chicago Public Schools (CPS) FY2017 budget on August 24, 2016. The…
The following news pieces cover the Civic Federation’s recent analysis of Chicago Public School’s proposed FY2017 budget. As mentioned in the analysis, the…
District Should Detail Transparent Backup Plan In a report released today, the Civic Federation announced it cannot support the Chicago Public Schools proposed FY2017 operating budget of $5.46 billion. The budget effectively remains out-…
The Civic Federation cannot support the Chicago Public Schools proposed $5.46 billion budget because it effectively remains out-of-balance by relying on uncertain funding and one-time measures in order to close a $1.1 billion operating…
This segment explores the history of Illinois’ Budget Stabilization Fund, more commonly known as a “rainy day fund.” Host Tony Sarabia and President of the Civic Federation Laurence Msall discuss the consequences for the state and for…
This article discusses the repeated depletion of the State of Illinois’ rainy day fund, due in FY2017 to the absence of a comprehensive, balanced budget. Civic Federation President Laurence Msall remarks that, in effect, Illinois continues…
