Pensions

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Chicago Park District Pension Reforms Signed Into Law

This article discusses whether the Chicago Park District pension reforms signed into law by Governor Pat Quinn on January 7 could serve as a framework for other local governments in need of pension reform. In its…

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States Face Legal Challenges Over Reduced Pension COLAs

States inevitably face lawsuits when they attempt to ease budgetary pressures by cutting pension payments to current employees and retirees. While the legal battle over Illinois’…

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2013 Year in Review on Civic Federation Blog

The following posts were among the most highly read on the Civic Federation blog in 2013 and represent some of the most closely followed local government issues this year:…

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2013 Year in Review on the Institute for Illinois’ Fiscal Sustainability Blog

The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2013 and represent some of the most closely followed Illinois fiscal issues this year:…

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Civic Federation Budget Recommendations for Chicago-Area Local Governments

Last week the Civic Federation marked the end of the FY2014 budget season with a blog that summarized the proposed budgets for the eight local governments the Federation…

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How the Illinois Pension Plan’s Annual Benefit Increase Affects Current Employees

The pension plan enacted by the State of Illinois on December 5, 2013 may preserve more of the benefit increases for current employees than is widely…

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Those pension blues: Where Detroit has gone, will others follow?

This article discusses a judge’s ruling allowing the City of Detroit to enter bankruptcy. The judge additionally ruled that pension benefits for employees and retirees could be cut as a part of Detroit’s eventual reorganization plan.…

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Metropolitan Water Reclamation District FY2014 Tentative Budget: Analysis and Recommendations

The Civic Federation supports the Metropolitan Water Reclamation District’s tentative budget of $1.2 billion for its responsible pension practices and transparent long-term planning. The District is prudently basing its pension…

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Civic Federation Praises MWRD for Responsible Pension Funding

In an analysis released today, the Civic Federation supports the Metropolitan Water Reclamation District’s (MWRD) FY2014 Tentative Budget of $1.2 billion for its responsible pension practices and transparent long-term planning. The full 50…

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Illinois Pension Overhaul Features Lower Benefit Increase

After decades of dire warnings and several years of legislative negotiations, the Illinois General Assembly on December 3, 2013 passed…