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Pensions

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Chicago Worth the Risk to Pimco, Wells Capital as Deficit Swells

This article discusses the effect that the City of Chicago’s unfunded pension liabilities have had on borrowing costs, and an upcoming court ruling that will determine whether…

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How much could Chicago pension payments jack up your property tax bill? Try 30 percent

This article discusses the potential for Chicago residents to see a significant property tax increase, due to the intensifying financial challenges facing the City of Chicago and Chicago Public Schools. The Civic Federation said new…

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Chicago schools face $200 million in cuts

This segment covers the severe budget challenges facing Chicago Public Schools that were further exacerbated following a $634 million pension payment made June 30. The Civic Federation said CPS has been facing a structural deficit for…

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The Next Pension Time Bomb

This article recaps the history that has led to Illinois’ $100 billion in unfunded pension liabilities and examines concerns about the adequacy of pension benefits provided to State employees hired after 2011. The Civic Federation said…

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A look at Chicago's financial crisis over schools

This segment covers the $634 million pension payment made in full by Chicago Public Schools on June 30, which put added pressure on District’s already …

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Rhode Island General Assembly Approves Public Pension Settlement

Two weeks after a judge gave final approval to a settlement agreement that would end several years of litigation and…

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Can CPS be saved?

This editorial discusses the $1.1 billion deficit Chicago Public Schools is facing and the decisions the District will need to make before the fall school year begins. It cites the Civic Federation’s…

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How can CPS make looming pension payment and payroll? That's the 'magic question'

This article covers the tough financial choices Chicago Public Schools is facing coming into the fall 2015 school year, including a $634 million pension payment. The Civic Federation discussed the District’s difficult options: severe…

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Chicago Police and Fire Employer Pension Funding Changes Passed in Illinois General Assembly

In December 2010 the Illinois General Assembly passed and then Governor Quinn signed legislation (Public Act 96-1495) that created a new tier of pension…

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Emanuel's pension plan: Relief on payments, casino to pay for it

This article discusses Mayor Emanuel’s plan to tackle a sharp increase in required payments to the City’s pension funds next year, based on a 2010 law aimed at bringing the City’s Police and Fire pension funds back to 90 percent funded by…