The State of Illinois will need to increase contributions to its pension funds by $682.0 million in the next budget year, according to preliminary amounts released by the State’s five retirement systems. Total pension contributions…
This article discusses the Civic Federation’s analysis of the FY2015 City of Chicago budget. The Civic Federation supports the budget for its structural…
The total unfunded liabilities for the State and local public employee pensions that Chicago residents fund reached $19,579 per capita for fiscal year 2012. That is up from $6,175 per capita in FY2003. Like comparing…
This article reviews the FY2015 Budget Announcement from Chicago Mayor Rahm Emanuel.…
This article discusses Mayor Rahm Emanuel’s FY2015 Budget announcement for the…
This article covers the Civic Federation’s annual Status of Local Pensions report that looks at the funding levels of ten Chicago-area public…
This article covers the Civic Federation’s Status of Local Pensions report that annually examines the most recent audited data available for ten…
Chicago-area public employee pension funding levels continued to decline in FY2012, with total unfunded liabilities for the ten funds analyzed rising to $37.2 billion from $32.0 billion in FY2011. On average, the ten funds analyzed had an…
A Civic Federation report released today examines the continued funding decline of Chicago-area public employee pension funds. For all pension funds supported by the taxes of Chicago residents, including statewide funds, total unfunded…
The declining health of public employee pension funds throughout the State of Illinois is primarily due to two causes: inadequate employer contributions over a sustained period and recent investment losses. This blog will discuss the role…
