UPDATE: In addition to the Teachers’ Retirement System (TRS), two other large State of Illinois pension funds have also lowered their assumed rates of return on investment. Both the State Universities Retirement System (SURS) and the…
This article discusses the relationship between property taxes, politics and Chicago’s drastic unfunded pension liabilities. Governor Quinn vowed to veto an early version of a pension reform bill for two of Chicago’s pension funds that…
This article covers the pension reform bill for two Chicago pension funds that Governor Quinn signed into law on the June 9 deadline. It was unclear until his signature whether the Governor would support the bill passed by the Illinois…
State statute governs all benefits and funding of public pensions for the City of Chicago. The City cannot contribute more to its pensions than the multiple of employee contributions allowed under state statute. There has unfortunately…
On May 28, 2014, The Civic Federation sent this letter to Representitive Elaine Nekritz and the members of the House Personnel and Pensions Committee in advance of a 4 p.m. hearing on…
This article covers the Cook County pension reform legislation that passed the Illinois Senate May 27 and is awaiting a vote in the House. The Civic Federation said the proposal is a step in the right direction for the fund that is…
Chicago and Cook County residents who followed the pension debate at the State of Illinois might be surprised by the fact that proposals for pension reform for the…
This article discusses a tentative agreement reached to stabilize Cook County’s Pension Fund through a combination of benefit and funding reforms. A…
