Tryon on Revenue Forecasting and Pension Review Panel

A press release from State Rep. Mike Tryon:

Rep. Tryon Named to Commission on Government Forecasting and Accountability

CRYSTAL LAKE….. State Representative Mike Tryon (R-Crystal Lake) is one of three House Republicans who has been named to the prestigious Commission on Government Forecasting and Accountability (CGFA).

CGFA is a bi-partisan Illinois commission which includes 12 House and Senate members. Membership is determined by the Republican and Democrat leaders of both chambers of the General Assembly.

Mike Tryon

Mike Tryon

Tryon joins Republican State Representatives Patti Bellock (R-Westmont) and Raymond Poe (R-Springfield) on the commission.

“It is an honor and a privilege to serve on this commission,” said Tryon. “This bi-partisan group does some incredibly important work.”

The Commission was created in 1972 by the 77th General Assembly, and provides the Legislature with research and information regarding state and national economies, revenue projections and operations of Illinois Government.

The group is also charged with monitoring the long-term debt position of Illinois and for monitoring the administration of the State Employee Group Insurance Program.

Each year CGFA creates several reports that are shared with the General Assembly, including

  • the annual Revenue Estimate and Economic Outlook, which describes and projects economic conditions and its impact on state revenues;
  • the Legislative Capital Plan Analysis, which examines the State’s capital appropriations plan and debt position;
  • 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; and
  • the annual Budget Summary.

CGFA also absorbs several pension duties, including

  • 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.

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Yours truly served on this panel for eight years in the 1970’s.

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