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Pensions

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General Assembly to Consider Budget-Related Bills in Veto Session

The Illinois General Assembly is expected to take up a host of budget-related bills during its veto session, which opened on October 25, 2011. During the veto session, the…

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Chicago’s budget: How to slash a deficit without raising taxes

City of Chicago Mayor Rahm Emanuel’s budgetary plans for the City are the focus of this article. The Civic Federation says that the City’s debt obligations do not allow much budgetary wiggle room in the latest City budget. The Federation…

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DuPage County Budget Cuts Spending, Freezes Property Tax

Civic Federation Encourages County to Fully Implement Planning Policies (CHICAGO) The Civic Federation supports the proposed $434.7 million DuPage County budget for FY2012 because it cuts spending for the third year in a row while holding…

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DuPage County Proposed FY2012 Budget: Analysis and Recommendations

The Civic Federation supports the DuPage County Proposed FY2012 Financial Plan of $434.7 million. The County is reducing expenditures for the third year in a row while pledging to maintain the existing level of service and keep the…

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States Consider Shift from Traditional Pension Plans

Faced with mounting pension costs, the State of Illinois and a number of other states are considering moving away from traditional pension plans.…

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City of Chicago Pension Health Continues to Decline

The pension crisis at the City of Chicago is severe. As described here, the City faces two distinct pension crises: two of its four…

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State of Illinois Enacted Budget FY2012: A Review of the Operating and Capital Budgets Enacted for the Current Fiscal Year

This report examines the State of Illinois’ operating and capital budgets as enacted for Fiscal Year 2012, which began on July 1, 2011 and ends on June 30, 2012. Despite a major income tax increase implemented in January 2011, the total…

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Total Illinois Budget Deficit Set to Grow in FY2012

Major Tax Increase, Cuts to Appropriations Did Not Fix State’s Finances (CHICAGO) The Institute for Illinois’ Fiscal Sustainability at the Civic Federation released its analysis of the enacted FY2012 State budget today. The report found…

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Laurence Msall Joins Roe and Roeper

Civic Federation President Laurence Msall discussed public pensions in Chicago on the "Roe and Roeper" talk show.

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Lawmakers move to close pension loophole

Civic Federation President Laurence Msall was interviewed for this news segment that discusses possible changes to a State law that allows some union leaders to base their public pensions on their union salaries.