Illinois Pension Funds Deteriorate in Fiscal 2012
(The full content of this article is available only to the publication’s subscribers.) This article covers the Civic Federation’s updated analysis of Illinois’ pension…
(The full content of this article is available only to the publication’s subscribers.) This article covers the Civic Federation’s updated analysis of Illinois’ pension…
The financial condition of the State of Illinois’ five retirement systems worsened in FY2012, with the systems’ total unfunded liability growing to $96.8 billion as of June 30, 2012 and the combined funded ratio declining to 39.0%. The…
This article cites an IIFS blog post that the State’s total contribution to its five retirement systems will need to increase by nearly $1…
The State of Illinois needs to contribute a total of $6.8 billion to its five retirement systems in FY2014 to meet statutory funding requirements, according to recent recommendations by the five systems. The proposed total FY2014…
The Civic Federation supports the City of Chicago’s FY2013 proposed $6.5 billion budget which reduces the City’s reliance on one-time revenue sources while restructuring City government through better managing personnel expenditures.…
This editorial discusses Moody’s Investor Service’s most recent downgrade CPS in the wake of a new labor contract for teachers and rising pension costs. The Civic Federation says CPS cannot afford to wait for leadership from the Illinois…
The State of Illinois’ largest pension fund recently revised several key assumptions that affect the fund’s financial condition and the contributions that must be made by the State under Illinois law. As discussed…
Trend analysis performed by the Civic Federation shows that the funded status of the Cook County Pension Fund fell again in fiscal year 2011, the most recent year for which data are available. The actuarial funded ratio for the County…
Chicago aldermen are meeting October 1 for a six-hour session detailing the City’s pension funding crisis. The Civic Federation said fixing the broken system will require shared sacrifice from taxpayers, retirees and current employees,…