On Tuesday, May 8, 2012, Mayor Rahm Emanuel offered a plan to reform pensions for employees of the City of Chicago, Chicago Public Schools and Chicago Park District during a hearing of the Illinois House of Representatives Personnel and…
(CHICAGO) In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability supports Governor Quinn’s proposed budget for FY2013. The $57.4 billion budget proposal acknowledges the depth of the State’s…
The Civic Federation supports Governor Pat Quinn’s $57.4 billion FY2013 recommended operating budget, because it acknowledges the depth of the State’s financial problems and would put Illinois finances on the road to recovery with major…
This article compares underfunding of the Michigan Public Employee Retirement System with similar crises affecting other teacher and public-employee pension systems in the Midwest. The Civic Federation spoke about the financial crisis…
Public officials and opinion leaders in Illinois have expressed much interest in the landmark pension reforms approved in Rhode Island in 2011. Chicago Mayor Rahm Emanuel…
The Teachers’ Retirement System of the State of Illinois (TRS) has concluded that it can no longer rely on the State to follow the law for funding its five retirement systems and that sweeping changes are needed to sustain the pension…
This article discusses a report released April 9 by Cook County Commissioner Bridget Gainer that outlines how Cook County’s pension fund will go broke in 26 years without immediate reforms. The Civic Federation applauds Commissioner Gainer…
(The full text of this article is available only to the publication's subscribers.) This overview of Illinois’ fiscal challenges focuses on rising costs in the State’s Medicaid program and pension systems. The article cites the Civic…
