Pensions

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Before Enhancing Tier 2 Benefits, Evaluate the Financial Impact of Illinois Pension Proposals

On April 20, 2023 two bills passed out of committee in the Illinois House of Representatives that would increase pension benefits for Chicago firefighters hired after 2010. Senate Bills…

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Funding Status of the Chicago Teachers’ Pension Fund

This blog post examines the Chicago Public Schools’ contributions to the Chicago Teachers’ Pension Fund in the FY2023 budget and the funding status of the Pension Fund based…

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Recently Enacted Changes to the Chicago Park District’s Pension Funding Schedule

Over the summer, Illinois Governor JB Pritzker signed into law Public Act 102-0263, which makes changes to the funding schedule for the Chicago Park District’s…

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City of Chicago FY2022 Proposed Budget: Pension Funds

The Civic Federation released its annual analysis of the City of Chicago’s proposed budget this week. Included in the report was a section dedicated to the budgetary…

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Illinois Pension Buyout Update

As laid out in many Civic Federation blogs over the last several years, the State’s two pension buyout plans, which were enacted as part of the FY2019 budget…

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Cook County Forest Preserves’ Conservation and Policy Council Proposes Cook County Contribute to District Pensions

In a proposal to stabilize underfunded pensions for Forest Preserve District of Cook County employees and retirees, the Forest Preserves’ Conservation and Policy Council

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State Pension Contributions Grab a Large Share of Illinois’ Budget—But Just How Large?

A recent report shows that Illinois’ statutorily required contributions to its five pension funds are expected to total $9.8 billion in the upcoming…

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City of Chicago FY2020 Proposed Budget: Analysis and Recommendations

Click here to read the full report.Click here to…

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Proposed Tier 2 Pension Changes Raise Questions about Long-Term Costs

For more than a decade, the Civic Federation has strongly supported consolidation of hundreds of police and fire…

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Civic Federation 2020 Legislative Priorities

2020 Civic Federation Legislative PrioritiesThe Civic Federation's legislative priorities for 2020 …