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In a report released today, the Civic Federation supports Cook County’s proposed FY2013 operating budget of $2.9 billion for its fiscal discipline in closing a $267.5 million shortfall with expenditure reductions, operational efficiencies and targeted revenue enhancements. The full report, available at www.civicfed.org, …

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October 23, 2012 By: Peter Orszag State and local governments, struggling to emerge from the aftermath of the financial crisis, face another looming funding gap: in their public pensions. These plans hold almost $3 trillion in assets and cover more …

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The Cook County Pension Fund is 57% funded and without changes to benefits or contributions the fund will go bankrupt in 2038 – 26 years. Currently 15,000 retirees receive a County pension, none of whom are eligible for Social Security. …

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By: Chris Wetterich June 18, 2012 Illinois will have another set of eyes scrutinizing the finances of the state-funded pension systems under a bill signed Monday by Gov. Pat Quinn. Meanwhile, Quinn said he, the four legislative leaders and their …

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June 6, 2012 By: Frank James Tuesday was, unquestionably, a very bad day for public-employee unions and not just for the reason that got most of the attention, Wisconsin Gov. Scott Walker’s success in fending off an attempt to oust …

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