In his first budget proposal for the State of Illinois, Governor Bruce Rauner recommended more than $4 billion in spending cuts and $2.2 billion in estimated pension savings to close a projected budget gap of over $6 billion in fiscal…
The Civic Federation’s previous blog examined the long-term debt of eight major local governments in northeastern Illinois. This…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that responds to the dire reality of Illinois’ financial condition with painful, but necessary…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition and proposes a comprehensive…
At the end of December, the Illinois Auditor General released the State Actuary’s annual report on the…
The Civic Federation and IIFS blogs have written extensively about reductions to assumed rates of return on investment by State and some local public pension plans over the last several years. These changes are part of a nationwide…
A drop in Illinois’ income tax rates—and uncertainty about the implementation of pension changes—could cause the State’s backlog of unpaid bills to grow to $9.9 billion by the end of the 2016 budget year, according to a new forecast by…
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2014 and represent the most closely followed Illinois fiscal issues of the year: State pension reform and the State budget…
This editorial discusses a lawsuit filed Tuesday against changes to the City of Chicago’s Municipal and Labor pension funds that are scheduled to go into effect January 1. It cites the Civic Federation’s most recent…
For anyone who wants to understand the pension crisis facing the State of Illinois, a recent report for the State’s largest pension fund would be a good place to start. The…
