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The $242 million payment that's being made in addition to regularly scheduled contributions launches the city's policy aimed at staving off growth in its unfunded liabilities, a goal made all the more urgent by the beating pension funds are taking on their investments.
January 6 -
Strong 2021 contribution levels continue a trend that began with pension reforms made in the wake of the Great Recession.
January 3 -
As rising interest rates take pension obligation bonds off the table, city finance managers are looking to other methods to manage unfunded pension obligations.
December 15 -
Illinois' unfunded pension tab improved slightly in 2022 because 2021 returns still play a role in the actuarial assessment through smoothed investment returns.
December 8 -
A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.
November 23 -
Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.
November 21 -
Major cities are generally doing well despite economic volatility.
November 17 -
While only 29 city related pension plans in 2021 reported future fail dates for meeting retirement benefits, that number could worsen this year as investment returns tumble.
October 27 -
Ratings for Kansas have not changed since it was downgraded three times during the prior decade due to structural budget problems in the wake of tax cuts.
October 6 -
The consolidation of suburban and downstate firefighter pension fund assets is nearly complete but litigation is delaying the police consolidation.
October 5