This segment covers the severe budget challenges facing Chicago Public Schools that were further exacerbated following a $634 million pension payment made June 30. The Civic Federation said CPS has been facing a structural deficit for…
This article recaps the history that has led to Illinois’ $100 billion in unfunded pension liabilities and examines concerns about the adequacy of pension benefits provided to State employees hired after 2011. The Civic Federation said…
Two weeks after a judge gave final approval to a settlement agreement that would end several years of litigation and…
This editorial discusses the $1.1 billion deficit Chicago Public Schools is facing and the decisions the District will need to make before the fall school year begins. It cites the Civic Federation’s…
This article covers the tough financial choices Chicago Public Schools is facing coming into the fall 2015 school year, including a $634 million pension payment. The Civic Federation discussed the District’s difficult options: severe…
In December 2010 the Illinois General Assembly passed and then Governor Quinn signed legislation (Public Act 96-1495) that created a new tier of pension…
This article discusses Mayor Emanuel’s plan to tackle a sharp increase in required payments to the City’s pension funds next year, based on a 2010 law aimed at bringing the City’s Police and Fire pension funds back to 90 percent funded by…
This article discusses the Illinois Supreme Court ruling that found a 2013 State of Illinois law reducing pension benefits for State employees and retirees…
This editorial followed the Illinois Supreme Court’s ruling against the constitutionality of a 2013 law that would have amended State retirees’ pension benefits to begin reducing the State’s $111 billion in pension debt. The editorial…
