The Commission on Government Forecasting and Accountabilitys mandated economic and tax revenue update for the State of Illinois. The presentation discusses current economic trends related to gross domestic product (GDP), employment, inflation, interest rates, and exports for both the U.S. and Illinois for the current fiscal year and the upcoming fiscal year. Economic forecasts are also provided. The presentation presents the Commissions updated revenue forecast and offers new estimates. A comparison of the Commissions revenue estimates is made to those offered by the Governors Office of Management and Budget.
The Report on the Financial Condition of the Downstate Police and Fire Pension Funds in Illinois was created pursuant P.A. 95-0950. This report is a bi-annual report, published each odd-numbered year. Each report shows nine years worth of financial data for individual Downstate Police and Fire pension funds, including actuarial metrics such as assets, individual rates of investment return, and actuarial liabilities. The report also contains detailed demographic information such the number of active and retired members, and average active member salaries. The executive summary displays aggregate actuarial and demographic data grouped by four different asset levels so that readers can get a top-line, at-a-glance overview of how police and fire pension funds are performing financially, as well as their compliance with the funding requirements of P.A. 96-1495, which mandated a new funding program for these funds.