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Pensions

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Research Group Can't Stomach Cook County Sales Tax

This article reviews the Civic Federation’s analysis of Cook County’s FY2016 Proposed Budget. The Federation could not support the budget because the…

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Chicago Park District pension law could face challenge

This article discusses a potential lawsuit challenging Chicago Park District pension reforms that went into…

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City of Chicago Releases Annual Financial Analysis for 2015

The City of Chicago recently released its Annual Financial Analysis for 2015. According to an…

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Emanuel projects $426 million shortfall — even with several rosy assumptions

This article reviews findings in the City of Chicago’s Annual Financial Analysis, released July 31. The Civic Federation said the only thing that can improve Chicago’s financial position is a comprehensive plan that relies on sustainable…

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Emanuel needs $754M more to make ends meet

This article examines the projected deficit of $426 million reported in the City of Chicago’s Annual Financial Analysis, which does not include additional…

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That pension ruling will cost taxpayers $200 million a year

This article discusses the impact taxpayers could feel following a July 24 court ruling that struck down reforms for the City of Chicago’s police and fire pension funds. The Civic Federation said that without the reforms, it is highly…

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Chicago Public Worker Pension Reform Plan Found Illegal

This article covers the July 24 Cook County court ruling that struck down reforms to Chicago’s police and fire pension funds. The Civic Federation said the ruling puts the City back on an inadequate funding formula that has resulted in…

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Chicago preliminary budget estimate shows huge shortfall

This article covers the $426 million budget deficit projected in the City of Chicago’s Annual Financial Analysis released July 31. The $426 million budget gap does not include nearly $550 million in additional contributions required by…

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Chicago Worth the Risk to Pimco, Wells Capital as Deficit Swells

This article discusses the effect that the City of Chicago’s unfunded pension liabilities have had on borrowing costs, and an upcoming court ruling that will determine whether…

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How much could Chicago pension payments jack up your property tax bill? Try 30 percent

This article discusses the potential for Chicago residents to see a significant property tax increase, due to the intensifying financial challenges facing the City of Chicago and Chicago Public Schools. The Civic Federation said new…