This article discusses the State of Illinois’ settlement with the U.S. Securities and Exchange Commission (SEC) over charges that it misled investors between 2005 and 2009 about the degree of underfunding in its employee pension funds. The…
A bipartisan group of Illinois lawmakers has signed onto a new pension reform proposal designed to reduce the State’s massive pension costs.…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, which projects that Illinois’ pension costs would consume nearly one-third of State-…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, released February 25. The report projects a $22 billion backlog of unpaid bills by…
State urgently needs long-term plan to address rising pension and Medicaid costs, loss of income tax revenues (CHICAGO) – An analysis released today by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability shows the State…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. The FY2014 Roadmap includes a…
This article discusses pension reform legislation introduced by State Representative Lou Lang. The…
This article discusses a contract agreement reached between the City of Chicago and the Chicago Police Sergeants’ Association. The agreement increases employee pension contributions and the retirement age while reducing automatic annual…
This article chronicles the underfunding of Illinois’ pension systems from warnings by a Pension Laws Commission of inadequate State contributions in 1959 to the present day pension funding level of only 39 percent. The Civic Federation…
