Pension Holiday in FY2011 Estimated to Cost $12.5 Billion
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…
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…
The Civic Federation opposes Governor Pat Quinn’s $52 billion FY2011 recommended operating budget for the State of Illinois because it is unbalanced and does too little to address the State’s fiscal crisis. The Governor’s recommended…
The Civic Federation supports the Illinois General Assembly’s first steps toward comprehensive public pension reform in Illinois and urges state leaders to implement further reforms. On Wednesday, March 24, 2010, the Illinois General…