In this front page story about union leaders who earn City of Chicago pensions based on their union salaries, the Civic Federation is quoted saying that taxpayers should not be called upon to fund pensions that are not based upon work done…
In this news segment about pension fund benefits received by a Chicago Federation of Labor leader and loopholes in the systems allowing employees to receive multiple pension benefits, Civic Federation President Laurence Msall says that…
This article is about the Civic Federation’s analysis of Chicago Public Schools $5.9 billion FY2012 budget…
The Civic Federation announced its support for the Chicago Public Schools proposed FY2012 budget in a 82-page analysis released today at civicfed.org. Although supporting the CPS’s proposed $5.9 billion spending plan for the coming school…
The Civic Federation supports the Chicago Public Schools proposed $5.9 billion budget for FY2012, which is an increase of 1.5%, or $87.0 million, from the year-end estimates of FY2011. The proposed budget is a reasonable short-term plan to…
In its fiscal year 2012 budget proposal, the Chicago Public Schools administration provided for the first time a three-year projection of its future financial situation on…
This editorial assesses the troubles facing the State of Illinois if it does not overhaul its public pension systems. The Civic Federation estimates that every Illinois resident owes $6,031 to the pension system.
The Chicago Teachers’ Pension Fund accumulated nearly $5.4 billion in unfunded obligations over the past ten years. This was an increase of over 10,000%, from $5.1 million in FY2001 to $5.4 billion in FY2010. In three years alone, from…
This article discusses the funding issues the Cook County pension fund is facing, including a 60 percent funding status. The Civic Federation says that if a pension falls under 70 percent funded status, it may be necessary for a government…
Findings in a report from Cook County Treasurer Maria Pappas that show that the County owes $108 billion in accrued debt is the focus of this article. The Civic Federation says the report is a good contribution to the debate over local…
