The Commission on Government Forecasting and Accountability was created in 1972 by the 77th General Assembly to provide the Legislature with research and information regarding state and national economies, revenue projections and operations of Illinois Government. In 1979, the commission was further charged by the 81st General Assembly with monitoring the long-term debt position of Illinois. The General Assembly later made the Commission responsible for monitoring the administration of the State Employee Group Insurance Program as well as the annual review and approval of contracts entered into by the Department of Healthcare and Family Services for administration of the program.
In carrying out these duties, the commission prepares general studies and analyses, including periodic revenue estimates, economic updates and an annual capital plan analysis. The Commission also prepares specific revenue, debt impact, and pension notes on proposed legislation in those areas.
The Commission is mandated to report to the General Assembly on economic trends in relation to long-range planning and budgeting; and to study and make such recommendations as it deems appropriate on local and regional economic and fiscal policies and on federal fiscal policy as it may affect Illinois This mandate results in several reports on various economic issues being published throughout the year. The Commissions four primary reports include the Revenue Estimate and Economic Outlook, which describes and projects economic conditions and its impact on state revenues; the Illinois Bonded Indebtedness Report, which examines the states debt position and other issues related to conditions in the financial markets; the Legislative Capital Plan Analysis, a five-year analysis of the states capital needs; and the Liabilities of the State Employees Group Insurance Program, which provides the General Assembly with an estimate of liabilities of the Group Insurance Program each fiscal year. The Commission also publishes an annual fiscal year Budget Summary and special reports on issues that could impact the financial well being of Illinois.
The Commission is charged with reviewing the laws and practices relating to public pensions, retirement and disability benefits for people serving in State or local government and their survivors and dependents. The Commission evaluates existing laws and practices and makes recommendations on proposed changes to the Illinois Pension Code and annually issues a Report on the Financial Condition of Illinois Public Pension Systems.
The Commission consists of 12 members as mandated by the Legislative Commission Reorganization Act of 1984. The four legislative leaders each appoint three members.
Members: Senators Jeffrey M. Schoenberg (co-chair), Bill Brady, Don Harmon, Christine Radogno, David Syverson, Donne Trotter and Representatives Richard P. Myers (co-chair), Patricia Bellock, Frank Mautino, Robert Molaro, Elaine Nekritz and Raymond Poe.
Staff: Dan R. Long, Executive Director; Trevor J. Clatfelter, Deputy Director; Jim Muschinske, Revenue Manager; Daniel Hankiewicz, Pension Manager; Edward H. Boss, Economist; Donna Belknap, Bukola Bello, Victoria Copp, Briana Jackson, Lynnae Kapp, Michael Moore, Eric Noggle, Gregg Scott and Benjamin Varner.
(Responsibilities of the Pension Laws Commission were absorbed by the Commission on Government Forecasting and Accountability and the name changed from the Illinois Economic and Fiscal Commission effective February 1, 2004.)