This article is about how state pension systems around the country are coping with the effects of the financial crisis. The Civic Federation comments on the State of Illinois’ recent pension reforms, saying that the reforms are a good…
This editorial discusses recent efforts to overhaul the State of Illinois’ public pension systems and reduce its unfunded liabilities. It mentions a Civic Federation proposal to eliminate the income tax exemption for pension income in…
The State of Illinois has yet to determine how it will handle its required pension contributions for FY2011. However, a recent analysis by the Commission on…
This editorial opposes the policy decisions that have led to the dire state of Illinois’ pension system. The Civic Federation says the threat that Illinois’ pensions will run out of money is very real and that Illinois’ police and…
This article examines Illinois’ pension-funding crisis and the legislative reforms that attempt to stabilize the State pension systems. The Civic Federation points out that the reforms do not do enough to address immediate funding problems…
Before adjourning for a second time this session on May 28, 2010, the Illinois General Assembly sent a series of budget bills for FY2011 to the Governor. Both houses passed $26.0 billion in appropriations, emergency budget powers for the…
This article discusses a City of Chicago pension panel’s recommendation that the four City pension funds undergo major reforms, including later retirements and larger City and employee pension contributions for new hires. The Civic…
Despite the General Assembly’s goal to pass a budget for FY2011 and adjourn by May 7, 2010, legislators headed home after the session ended with no budget and no clear path out of the State’s current woeful financial situation. Although…
There are over 3200 public pension board trustees governing 657 separate public pension funds in the State of Illinois…
The City of Chicago released the final report of the Commission to Strengthen…
