This article focuses on the Civic Federation’s recommendation for Illinois to include federally taxable amounts of retirement income in its income tax base. Of the 41 states that impose an income tax, Illinois is one of only three that…
Last month, an independent Blue Ribbon Panel convened by the Society of Actuaries released its…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive plan for achieving long-term fiscal sustainability for the State of Illinois. The five-year plan would fully pay down…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. The report reviews Governor…
This article discusses today’s action by the Arizona Supreme Court ruling pension changes for its retired judges unconstitutional. Illinois’…
This article examines Chicago’s growing debt load due to unfunded pension liabilities and ongoing borrowing. The Civic Federation said Chicago’s level of debt is unsustainable and the City is short on time to find a solution. The article…
This article discusses the findings of several reports that focus on the unfunded liabilities of Chicago, Cook County and State of Illinois pension funds. It cites the Civic Federation’s annual…
In the fall of 2011, the Rhode Island General Assembly passed and Governor Lincoln Chafee signed landmark pension reform legislation intended to end a pension funding crisis and make retirement obligations for public employees more…
This article discusses a recent survey by Morningstar that estimated public employee pension debt per-Chicagoan at $18,596. The Civic Federation said the per-capita number would be higher if it included the CTA, Chicago Park District, Cook…
The State of Illinois’ new pension law is expected to reduce statutorily…
