Pensions

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Chicago Pension Measures in Doubt as Quinn Withholds Signature

This article discusses the uncertain status of pension reforms for two City of Chicago funds. The reforms were passed by the Illinois General…

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Chicago Talks Pension Reform While Waiting for Governor

This article discusses the reforms for two city pension funds passed by the Illinois General Assembly earlier in April, which are still waiting…

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Illinois General Assembly Passes Pension Reforms for Chicago

On April 8, 2014, the Illinois House of Representatives and Senate approved Senate Bill 1922,…

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Quinn Slams Emanuel’s Pension Bill

This segment discusses Governor Quinn’s opposition to the property tax component of Chicago’s recent pension reform plan for its…

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Chicago Pension Reform in Need of More Votes

This article follows the legislative progress of a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. It cites a Civic Federation…

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Rhode Island’s Landmark Pension Reforms Could Be Adjusted Under Proposed Settlement Agreement

As the legal battle over Illinois’ new pension law continues, courts continue to issue rulings on similar pension changes in other states. Last month, Governor Lincoln D. Chafee, General Treasurer Gina M. Raimondo, and the Federal…

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Chicago Mayor Seeks Alterations to Repair Badly Underfunded Pension Plan

This article reports on a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. Without reforms, both funds face insolvency within 9-17 years…

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Chicago Proposes Pension Funding Reform for Municipal and Labor Funds

Chicago Mayor Rahm Emanuel unveiled a proposal to stabilize the City’s underfunded Municipal and Laborers pension funds on March 31. The 40-year plan includes successive property tax increases to provide additional pension funding coupled…

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Joint Civic Federation - Federal Reserve Bank of Chicago Conference to Feature Keynote Address by Detroit CFO John Hill

The Federal Reserve Bank of Chicago and the Board of Directors of the Civic Federation are pleased to announce a conference on how municipalities in Illinois can avoid or resolve fiscal stress. The half-day conference will take place on…

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Taxable Sales Tax Deal Next Up For Illinois

This article discusses Illinois’ March 11 sale of taxable revenue-backed bonds in the context of the State’s temporary income tax increase scheduled to rollback in January 2015. It cites the Civic Federation’s recommendation to gradually…