Truth In Accounting
Recent News About Truth In Accounting View More
-
Chicago police union responds to analysis of pension fund
The Fraternal Order of Police Lodge No. 7, the Chicago Police Department union, responded to projections estimating the Policemen’s Annuity and Benefit Fund of Chicago will require a taxpayer bailout to pay for retiree benefits in four years.
-
Illinois among states seen as on the precipice of a pension disaster
Officials in Springfield and around the country are talking about a “pension cliff” and trying to determine what will happen as large numbers of educators become fully vested in school district pension benefit systems.
-
Actuary's model shows Chicago pension plan depleted in seven years
The Municipal Employees' Annuity and Benefit Fund of Chicago will run out of money by the year 2024, according to a model developed by actuary Mary Pat Campbell.
-
California pension cases called unlikely to affect Illinois
Two California appeals court rulings that public employee pensions may be changed so long as the changes are "reasonable" will probably not cause ripple effects in Illinois despite its need for some kind of financial miracle, a government watchdog researcher said recently.
-
Budget needs, financial reality clash at Chicago schools
While much of the nation knows all about Chicago's shocking murder rate and economic struggles, the Chicago Public Schools (CPS) recently released its annual financial report that indicates a dramatic divergence of enrollment and costs, with the former plummeting over the past decade and the latter skyrocketing.
-
Chicago's increasing interest expense cause for concern, experts say
Expenditures by the city of Chicago over the past few years have risen into the billions, including a 50 percent increase in 2014 to 2015 in interest expense, according to Truth in Accounting.