Chicago pension crisis balloons, underscoring calls for reform
This article covers the Civic Federation’s Status of Local Pensions report that annually examines the most recent audited data available for ten…
This article covers the Civic Federation’s Status of Local Pensions report that annually examines the most recent audited data available for ten…
Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011. On average, the ten funds analyzed had an…
A Civic Federation report released today examines the continued funding decline of Chicago-area public employee pension funds. For all pension funds supported by the taxes of Chicago residents, including statewide funds, total unfunded…
The declining health of public employee pension funds throughout the State of Illinois is primarily due to two causes: inadequate employer contributions over a sustained period and recent investment losses. This blog will discuss the role…
The most basic question about a pension fund is whether its assets are sufficient to cover total liabilities incurred. In this blog post, we examine the aggregate pension liabilities and Other Post…
Information included in recent bond disclosures by the State of Illinois indicate that the pension obligation bonds (POBs) sold in 2003 primarily to boost the retirement systems’ assets have earned the minimum investment returns needed to…
The difference between a pension fund’s assets and accrued liabilities is known as the unfunded liability. The unfunded actuarial accrued liability (UAAL)…
This week the City of Chicago released its Annual Financial Analysis for 2014. According to an…
This article discuses an upcoming $550 million contribution to the City of Chicago’s police and fire pension funds. The City’s…
This article discusses the City of Chicago’s 2014 Annual Financial Analysis released July 31, which reviews…