This article reports on the City of Chicago’s recent agreement with the Laborers Pension Fund to save the fund from insolvency through a combination of union concessions and revenue from telephone tax increases. Laurence Msall, President…
The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include: An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $…
This article explains that the City of Chicago has yet to provide alternative reforms for two of its pension funds after an Illinois Supreme Court ruling overturned the City’s previous reform plan. Civic Federation President Laurence Msall…
This editorial reports on findings included in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget and…
This article discusses the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget for the State of Illinois that…
Urges General Assembly and Governor not to pass or sign any appropriations for FY2017 unless part of a comprehensive plan (CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability…
The Civic Federation is unable to support Governor Rauner’s recommended budget for FY2017 because it has an operating deficit of at least $3.5 billion and presents an insufficiently detailed plan for closing the gap. According to the…
This article discusses a recent state budget forum featuring a panel of eight Illinois lawmakers providing their respective insights on Illinois’ current financial crisis. Civic Federation President Laurence Msall co-moderated the…
This article discusses the recent Illinois Supreme Court decision to uphold a Circuit Court ruling that reforms for two of Chicago’s pension funds are unconstitutional. The Civic Federation says the ruling limits financial…
