This article covers the July 24 Cook County court ruling that struck down reforms to Chicago’s police and fire pension funds. The Civic Federation said the ruling puts the City back on an inadequate funding formula that has resulted in…
This article covers the $426 million budget deficit projected in the City of Chicago’s Annual Financial Analysis released July 31. The $426 million budget gap does not include nearly $550 million in additional contributions required by…
This article discusses the effect that the City of Chicago’s unfunded pension liabilities have had on borrowing costs, and an upcoming court ruling that will determine whether…
This article discusses the potential for Chicago residents to see a significant property tax increase, due to the intensifying financial challenges facing the City of Chicago and Chicago Public Schools. The Civic Federation said new…
This segment covers the severe budget challenges facing Chicago Public Schools that were further exacerbated following a $634 million pension payment made June 30. The Civic Federation said CPS has been facing a structural deficit for…
This article recaps the history that has led to Illinois’ $100 billion in unfunded pension liabilities and examines concerns about the adequacy of pension benefits provided to State employees hired after 2011. The Civic Federation said…
Two weeks after a judge gave final approval to a settlement agreement that would end several years of litigation and…
This editorial discusses the $1.1 billion deficit Chicago Public Schools is facing and the decisions the District will need to make before the fall school year begins. It cites the Civic Federation’s…
This article covers the tough financial choices Chicago Public Schools is facing coming into the fall 2015 school year, including a $634 million pension payment. The Civic Federation discussed the District’s difficult options: severe…
