This column summarizes the history and present situation of Illinois’ worst-in-the-nation public employee pension funding crisis. It cites the Civic Federation’s recent Pension Primer…
This segment reports on recent proposals for a casino in the City of Chicago intended to generate revenue for the City, primarily to pay down unfunded pension liabilities. The Civic Federation said it is unclear how much revenue a new…
An Illinois Supreme Court decision overturning legislation to reduce the State’s massive pension costs will add to the difficulty of creating a balanced operating budget for the year that begins on July 1, 2015. The high court…
Urges General Assembly to Identify Alternate Plan for Closing $6.2 Billion Budget Gap In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability opposes Governor Rauner’s recommended budget for…
The Civic Federation opposes Governor Bruce Rauner’s recommended budget for FY2016 because it relies heavily on projected savings that do not appear to be achievable or prudent in light of the State of Illinois’ obligations and long-term…
This article examines the options available to Chicago Public Schools as it faces a $1 billion budget shortfall next year with little to no reserve funds. As…
This week the Civic Federation released a set of two primers on public employee pensions in the State of Illinois. The primary document, A Plain English Guide to…
Rhode Island recently reached a potential settlement agreement with most employee and retiree groups involved in litigation against its 2011 landmark pension reforms. The…
This article discusses a warning by credit rating agency S&P that the City of Chicago could face further credit rating downgrades this year without the enactment of substantial pension reform legislation. The Civic Federation is cited…
This article looks at both mayoral candidates’ proposals for addressing the City of Chicago’s financial challenges, which include severely underfunded pension funds, a high debt level and Chicago Public Schools’ $1 billion deficit. The…
