Addison ranked 162nd lowest in Illinois for the largest per-household police and fire pension debt, which stood at $4,260 in fiscal year 2024, according to the Illinois Department of Insurance.
The Addison Firefighters Pension Fund in 2024 reported an unfunded liability of -$59,128, signaling it was short by -0.1% of the assets required to meet all promised retirement benefits.
Taxpayers contributed 87.3 percent of the $3,671,517 the Addison Firefighters Pension Fund brought in 2018, or $6.70 for every $1 from pension members.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 58.1 percent of the Addison Firefighters Pension Fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
After projecting its investments would grow by 6.75 percent, the Addison Firefighters Pension Fund netted 0.70 percent on its investments in 2016, according to data reported to the Illinois Department of Insurance Pension Division.
The Addison Firefighters Pension Fund had 49 active participants receiving an average salary of $95,210 in 2016, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 88.8 percent of the $2,221,285 the Addison Firefighters Pension Fund brought in last year, or $4.35 for every $1 from pension members.
Without members and taxpayers subsidizing its revenue, Addison Firefighters Pension Fund lost $3,501,853 in 2016, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 61.8 percent of the Addison Firefighters Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Pension funds in West Chicago, Naperville and Wood Dale would go bankrupt first without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.