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.
In fiscal year 2024, the Addison Police Pension Fund ranked as the 211th most underfunded pension system in Illinois, backing just 60.1% of its retirement obligations with actuarial assets, Illinois Department of Insurance data shows.
Taxpayers contributed 79.2 percent of the $3,836,976 the Addison Police Pension Fund brought in 2018, or $3.75 for every $1 from pension members.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 57.4 percent of the Addison Police 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 Police Pension Fund lost 0.97 percent on its investments in 2016, according to data reported to the Illinois Department of Insurance Pension Division.
The Addison Police Pension Fund had 67 active participants receiving an average salary of $91,055 in 2016, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 81.5 percent of the $3,344,800 the Addison Police Pension Fund brought in last year, or $4.39 for every $1 from pension members.
Without members and taxpayers subsidizing its revenue, Addison Police Pension Fund lost $3,752,747 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, 57.6 percent of the Addison Police 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.
Government pension funds in Naperville, Lisle and Elmhurst depended most on taxpayer contributions to make ends meet in 2016, according to the Illinois Department of Insurance.
Government pension funds in Naperville, Lisle and Elmhurst depended most on taxpayer contributions to make ends meet in 2016, according to the Illinois Department of Insurance.