Following Mayor Rahm Emanuel’s FY2017 budget address, Civic Federation President Laurence Msall spoke with a pool of reporters about the finances of both the City of Chicago and Chicago Public Schools. He called the Mayor’s proposed budget…
This segment examines how the State of Illinois has become well-known for its mishandling of public employee pensions. Laurence Msall, President of the Civic Federation, remarks that Illinois has had plenty of chances to fix its…
This article discusses how recent changes to expected rates of return and other factors for several of the State of Illinois’ pension funds are increasing pressure on the State to address reforms. Civic Federation President Laurence Msall…
This article analyzes the connection between pension debt and major tax increases among selected U.S. states and municipalities. Civic Federation President Laurence Msall notes that the percentage of state source revenue going to Illinois…
This article discusses the Civic Federation’s call for a full actuarial analysis of the City of Chicago’s plan to save the City’s Municipal Employees Pension Fund and questions whether it may be enough. Civic Federation President Laurence…
This article reports on the State of Illinois’ worsening pension debt due to poor investment returns. Laurence Msall, President of the Civic Federation, comments that there is no easy way to stabilize Illinois’ pension systems and notes…
Recent decisions by two of the largest State of Illinois retirement systems are expected to result in significant increases to statutorily required pension contributions in the upcoming budget year. This blog post discusses the decisions…
In 2012 the Governmental Accounting Standards Board (GASB) issued new accounting and financial reporting standards for public pension plans and for governments,…
The Chicago Board of Education approved a reinstated dedicated pension levy as part of the Chicago Public Schools (CPS) FY2017 budget on August 24, 2016. The…
This article reports on the amount in tax increases that the City of Chicago will need to stabilize the City’s major government pension plans. Laurence Msall, President of the Civic Federation, says the tax hikes are reasonable and better…
