This article reports on the Illinois Supreme Court ruling overturning reforms for two of the City’s pension funds and the potential consequences for Chicago taxpayers. Laurence Msall, President of the Civic Federation, notes that the short…
This segment examines the City of Chicago’s short-term borrowing to fund police and fire pensions. Civic Federation President Laurence Msall indicates that borrowing for pension payments is not an ideal situation.
This article discusses the Chicago City Council authorizing up to $200 million of bonds to help pay termination fees to exit swaps linked to its water debt. Civic Federation President Laurence Msall noted that, while this helps the city…
This article reports on payments made to Chicago's police and fire pension funds using $220 million in short-term borrowing. Laurence Msall, President of the Civic Federation, called the borrowing an unfortunate, expensive, yet…
This article examines the costs of high pensions paid to former school district administrators in Illinois. Laurence Msall, President of the Civic Federation, notes that these are a prime example of why the State continues to need…
With the budget for the current fiscal year still incomplete, Governor Bruce Rauner proposed a financial plan for the next budget year with an operating deficit of $3.5 billion. The…
This article reports on a real estate investment made on behalf of five of Chicago’s public pension plans, which resulted in significant losses for those plans. Civic Federation President Laurence Msall comments on the lost investment and…
This editorial features recommendations found in the Civic Federation’s FY2017 Budget Roadmap and discusses Illinois’ potentially bleak future if steps aren’t…
This article highlights the Civic Federation’s FY2017 State of Illinois Budget Roadmap and its recommendations to help stabilize Illinois’…
