Analysis: Downers Grove Firefighters Pension Fund would go bankrupt in nine years without taxpayer subsidy

Without members and taxpayers subsidizing its revenue, the Downers Grove Firefighters Pension Fund would have lost $6,513,633 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $52,665,712 in total assets. If the fund’s annual losses stay the same, it would run out of money in nine years without these subsidies.

The fund lost $2,063,044 in investment income and other revenue in 2018. At the same time, it paid out $4,450,589 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.

Taxpayers added $3,432,422 to the fund’s revenue last year – an amount that has increased from $2,494,658 five years ago. Members contributed an additional $716,890 – $62,039 more than five years ago.

In all, subsidies amounted to $4,149,312 in 2018.