Public pensions

The motion is part of the bondholders' attack on a plan to give them 15 cents on the dollar.

The decision comes as the courts told the city it's on the hook to make up the roughly 2% shortfall in property tax collections to fully cover set payments.

Tom Kozlik of Hilltop Securities explores how pension underfunding woes continue to weigh on public finance. Paul Burton hosts.

Mayor Lori Lightfoot says the city can manage through 2020 and will wait for the 2020 session to resurrect requests.

The state will pool the assets of 650 public safety pension funds outside Chicago into two new funds: one for police and one for firefighters.

The unfunded liabilities rose to $137 billion in fiscal 2019 from $134 billion, and the state will have to contribute $600 million more in fiscal 2021.

The Illinois city faces garnishment of state funds to make up for pension shortfalls, threatening its ability to deliver core services, Moody's said.

The Chicago Park District would phase in actuarially determined pension payments under a funding plan that still needs state legislative approval.

The ruling is credit negative but the district has a large budget and revenue-raising flexibility to absorb the liability, Moody's Investors Service says.

Illinois lawmakers wrapped up the first half of their annual fall veto session leaving tough legislation for the second half, beginning Nov. 12.

Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.

Optimistic investment assumptions are the primary cause of public-sector pension plan underfunding, according to a report by Hilltop Securities.

The proposed settlement, filed in federal district court in New York late last week, would bring to a close the SEC’s case against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.

The policy would require firms to consider women and people of color for every open board seat and for CEO appointments.

The proposed 2020 Cook County spending plan comes ahead of Chicago's budget that must tackle a more than $800 million gap.

J.B. Pritzker wants lawmakers to pool the assets of hundreds of local public safety pension funds outside Chicago into two statewide funds.

Variables related to other post-employment benefit liabilities jeopardize core services in the tri-state area, said the Manhattan Institute.

Most of the deal from Connecticut's largest city will be taxable, with the lion's share going to a pension fund.

The fund is seeking to collect $1.8 million of the city's state-transferred tax funds to make up for claimed contribution shortfalls.

The continued low interest rate environment is compelling more cities to explore issuing the bonds.