Emanuel pension plan drawing fire from all sides
This article discusses legislation backed by Mayor Emanuel that would delay funding reforms for the City’s severely underfunded police and fire funds. For…
This article discusses legislation backed by Mayor Emanuel that would delay funding reforms for the City’s severely underfunded police and fire funds. For…
This article discusses a proposal for the City of Chicago’s severely underfunded police and fire pension funds that would delay the date when the City is…
Over the next few weeks, many Chicago-area local governments will be releasing their proposed budgets for fiscal year 2014. In preparation for the upcoming budget releases, this blog will recap the Civic Federation’s significant…
Failure to address pension crisis, plan for upcoming revenue loss threatens to erase progress on State’s backlog of unpaid bills (CHICAGO) – An analysis released today by the Institute for Illinois’ Fiscal Sustainability at the Civic…
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and further consequences of the unresolved pension…
Since July 2013 each of the six local governments monitored by the Civic Federation with General Obligation bond debt has experienced downgrades to their bond ratings. These governments are the City of Chicago, Cook County, the…
This segment discusses a lawsuit filed by Illinois legislative leaders over Governor Quinn’s July veto that withholds pay from lawmakers until pension reform legislation is passed. The Civic Federation said the underlying issue of the…
The blogs for this week and next week will examine the long-term obligations of six selected municipalities in Illinois and their overlapping local governments using per capita indicators based on unfunded pension liabilities and bonded…
In this segment, Civic Federation President Laurence Msall discusses the findings of the Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation…
This editorial discusses the need for pension reform for Chicago Public Schools and District officials’ failure to detail a pension plan. The editorial cites the Civic Federation’s…