(CHICAGO) The Civic Federation’s Institute for Illinois’ Fiscal Sustainability released a plain-English summary of the State of Illinois’ FY2011 enacted budget today. The 26-page report is available on our website,…
This report examines the State of Illinois’ $53.5 billion operating budget for Fiscal Year 2011, which began on July 1, 2010 and ends on June 30, 2011. The report focuses on the $25.8 billion General Funds budget, the largest component of…
This news story explains how politics has helped create a situation in which Chicago pension funds are at risk of insolvency. The Civic Federation says that pension “holidays” have had a negative effect on funding levels of some pension…
This article compares the different statements made by think tank organizations about the extent of Illinois’ fiscal issues. The Civic Federation says that while State employees are not overpaid, they do receive very generous retirement…
This article about the State of Illinois’ possible plans to borrow to make its required pension contribution cites a Civic Federation blog post “…
The Civic Federation's legislative priorities for 2011 include public pension reform, requiring state government to develop and implement a capital improvement plan, the dissolving of the Illinois International Port District, creating a…
When the General Assembly reconvenes next week for its annual veto session, it is expected to continue deliberating whether to borrow in FY2011 to make its required pension payment. If approved, the borrowing plan would lighten the load on…
In this news segment, Civic Federation President Laurence Msall explains why the Civic Federation opposes the City of Chicago’s FY2011 budget. Mr. Msall explains that the City needs major pension fund reforms and must not rely on one-time…
After experiencing several years of poor market conditions, three of the five Illinois State employee retirement funds have reduced their expected rate of return on investments. This rate, also known as the discount rate, is used to…
As explained in its recent analysis of the State of Illinois FY2011 proposed budget, the Civic Federation opposes the practice of supplying money to the State…
