This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2006. It finds a combined 18.3 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation supports the MWRD's FY2008 Budget because it minimizes the burden on taxpayers and demonstrates sound financial planning techniques. The Civic Federation is concerned about the declining funded ratio of the MWRD pension fund and recommends a number of measures to improve the fiscal health of the plan.
The Civic Federation supports the CTA's proposed $1.0 billion FY2008 budget because it makes the necessary fare and service changes to create a blanced budget for the coming fiscal year. The Federation calls on the General Assembly and Governor to pass SB 572 immediately in order to allow the CTA to institute landmark pension and retiree health care reforms and rein in its skyrocketing employee…
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2005. It finds a combined 16.5 billion dollars in unfunded liabilities for the ten funds, and makes numerous recommendations on legislative actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation's legislative priorities for 2007 include public pension reform, property tax exemptions and assessment reform, revision of the Regional Transportation Authority Act, tax increment financing disclosure, timely county audits, and other post employment benefit trust fund authorization.
The Civic Federation supported the MWRD's FY2007 Budget because it minimizes the burden on taxpayers and implements sound financial planning techniques. Notably, the MWRD has adopted a policy establishing an irrevocable trust for funding its Other Post Employment Benefit liabilities (e.g., retiree health care), and is appropriating 10 million dollars for this purpose in FY2007. The District is…
The Civic Federation opposes the State of Illinois Recommended FY2007 operating budget because it takes a partial pension holiday of $1.1 billion at the same time as it increases spending for recurring programs by $1 billion.
This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2004. It finds a combined $14.4 billion in unfunded liabilities for the ten funds, and makes recommendations on actions that should be taken to slow the downward spiral of pension underfunding.
The Civic Federation's legislative priorities for 2006 include public pension reform, elimination of the Suburban Cook County Tuberculosis Sanitarium District, property tax exemptions and assessment reform, revision of the Regional Transportation Authority Act, state tax restructuring, and property tax assessment appeals reform.
The Civic Federation strongly supported the Governor's proposed pension reforms and urged the General Assembly to adopt the pension reforms as well as a moratorium on further benefit enhancements.
