The State of Illinois’ contributions to its five pension funds will rise by $288.8 million to $7.8 billion in the next budget year, according to preliminary estimates by the retirement systems. The proposed 3.8% increase will add to the…
In this interview on the City of Chicago’s Proposed FY2016 Budget with Mayor Rahm Emanuel, the Mayor discusses the Civic Federation’s analysis of the…
This article reviews the Civic Federation’s analysis of Cook County’s FY2016 Proposed Budget. The Federation could not support the budget because the…
This article discusses a potential lawsuit challenging Chicago Park District pension reforms that went into…
The City of Chicago recently released its Annual Financial Analysis for 2015. According to an…
This article reviews findings in the City of Chicago’s Annual Financial Analysis, released July 31. The Civic Federation said the only thing that can improve Chicago’s financial position is a comprehensive plan that relies on sustainable…
This article examines the projected deficit of $426 million reported in the City of Chicago’s Annual Financial Analysis, which does not include additional…
This article discusses the impact taxpayers could feel following a July 24 court ruling that struck down reforms for the City of Chicago’s police and fire pension funds. The Civic Federation said that without the reforms, it is highly…
This article covers the July 24 Cook County court ruling that struck down reforms to Chicago’s police and fire pension funds. The Civic Federation said the ruling puts the City back on an inadequate funding formula that has resulted in…
This article covers the $426 million budget deficit projected in the City of Chicago’s Annual Financial Analysis released July 31. The $426 million budget gap does not include nearly $550 million in additional contributions required by…
