Pensions

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Ahead of Pivotal Budget Season, Civic Federation Releases Reports on Chicago Public Schools Financial Forecast

CHICAGO — As Chicago Public Schools (CPS or the ‘District’) heads into a pivotal budget season under new leadership — and with a newly finalized, cost-increasing contract with the Chicago Teachers Union — the Civic Federation is…

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How Chicago Public Schools' Pensions Work: An Explainer

By Daniel VeseckyThe Chicago Public Schools District (CPS, or the ‘District’) has over 45,000 employees, all of whom are guaranteed a pension after retirement if they have…

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Pension change boon to Chicago police officers, firefighters, but additional hit to taxpayers

by A.D. Quig, Olivia Olander, and Jeremy…

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A Joint Appeal for Transparency and Prudence on Pension Reform

Dear Governor Pritzker, President Harmon, Speaker Welch, Leader Curran, and Leader McCombie:As we enter the final days of session, our collection of civic organizations is concerned about a final push for pension legislation that could…

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How Illinois' Spending Compares to Other States: The Tension Between Pensions vs. Public Services

By Lily PadulaA comparative analysis of state expenditures finds that Illinois allocates a larger portion of its operational expenditures to pension obligations than most peer states. Illinois’ annual expenditures on state-level public…

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Our News

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Financial Landscape Analysis of the Chicago Public School District: FY2025

Click here to read the full report.

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Cook County Pension Fund FY2023 Update

In this short report, the Civic Federation analyzes indicators of the fiscal health of the Cook County Pension Fund based on the most recent FY2023 actuarial…

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City of Chicago FY2025 Roadmap: Key Financial Challenges, Options and Recommendations

Click here to read the full report.Click here to read the executive summary.

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2023 Year in Review

The following are summaries of the five most-read posts presented on the Civic Federation’s blog in 2023, listed here in chronological order. The posts examine issues related to Illinois taxes and debt, Tier 2 Benefits, the SAFE-T Act…