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Pensions

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Our View: A real plan to rescue Illinois, Inc.

This editorial highlights the recommendations in the Civic Federation’s State of Illinois FY2015 Budget Roadmap and calls the Federation’s plan a thoughtful, comprehensive…

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Editorial: Federation financial plan sound, but will state listen?

This editorial examines the Civic Federation’s State of Illinois FY2015 Budget Roadmap and calls the Federation’s plan a “reasonable and balanced approach” to addressing…

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Taxing retirement benefits controversial, but viewed by some as matter of fairness

This article focuses on the Civic Federation’s recommendation for Illinois to include federally taxable amounts of retirement income in its income tax base. Of the 41 states that impose an income tax, Illinois is one of only three that…

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Civic Federation Participates in Two National Public Pension Reports

Last month, an independent Blue Ribbon Panel convened by the Society of Actuaries released its…

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Civic Federation Proposes Five-Year Plan to Balance State Budget, Eliminate Bill Backlog & Reduce Income Tax Rates

In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive plan for achieving long-term fiscal sustainability for the State of Illinois. The five-year plan would fully pay down…

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State of Illinois FY2015 Budget Roadmap

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. The report reviews Governor…

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Why Illinoisans should care about this Arizona pension ruling

This article discusses today’s action by the Arizona Supreme Court ruling pension changes for its retired judges unconstitutional. Illinois’…

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Cradle-to-Grave Debt Load Leaves No Chicagoan Free: Muni Credit

This article examines Chicago’s growing debt load due to unfunded pension liabilities and ongoing borrowing. The Civic Federation said Chicago’s level of debt is unsustainable and the City is short on time to find a solution. The article…

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Chicago-Area Pension Shortfalls Grow Again

This article discusses the findings of several reports that focus on the unfunded liabilities of Chicago, Cook County and State of Illinois pension funds. It cites the Civic Federation’s annual…

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Rhode Island Pension Reform: Two Years Later

In the fall of 2011, the Rhode Island General Assembly passed and Governor Lincoln Chafee signed landmark pension reform legislation intended to end a pension funding crisis and make retirement obligations for public employees more…