This editorial discusses the ongoing struggle many governments face in trying to fund benefits for public-sector employees without cutting public services. The piece stresses the urgency of addressing unsustainable pension costs, citing…
This Tribune editorial focuses on the temporary personal and corporate income tax increases enacted in Illinois in 2011, which are currently scheduled to partially sunset on January 1, 2015. The Civic Federation said the State’s budget is…
The State’s largest retirement system postponed until September a decision on whether to reduce the system’s assumed rate of return on investment — a decision that could result in an increase in the annual State contribution required by…
This Tribune editorial discusses the continued inaction of Illinois legislators on pension reform in the wake of August 17th’s fruitless special legislative session. The editorial cites an estimate from the Civic Federation’s 2010…
This article covers the release of the Civic Federation’s Analysis of Chicago Public Schools (CPS) FY2013 proposed budget. The Civic Federation opposes the CPS budget for the first time since…
The Civic Federation opposes the Chicago Public Schools (CPS) proposed $5.2 billion FY2013 operating budget which drains all General Fund reserves to help close a $665 million budget deficit and leaves the District with no identifiable…
As public pension liabilities around the nation continue to grow, public officials and pension fund boards are looking into alternatives to traditional defined benefit (DB) pension plans. Two kinds of “hybrid” retirement plans have…
This week the Civic Federation released its annual Status of Local Pension Funding report. This report reviews fiscal year 2010 actuarial valuation reports and financial statements of the retirement funds.…
The Illinois International Port District has requested an audit of its operations along and has commissioned a “strategic and capital needs study.” A 2008 Civic Federation report called for…
