In fiscal year 2024, the Glenside FPD Firefighters Pension Fund in Glendale Heights placed 472nd among Illinois pension funds for underfunding, with only 79.7% of projected retirement benefits supported by actuarial assets, according to the Illinois Department of Insurance.
After projecting its investments would grow by 6.5 percent, the Glenside FPD Firefighters Pension Fund netted 5.3 percent on its investments in 2018, according to data reported to the Illinois Department of Insurance Pension Division.
Without members and taxpayers subsidizing its revenue, the Glenside FPD Firefighters Pension Fund would have lost $173,995 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 88.2 percent of the $1,086,605 the Glenside FPD Firefighters Pension Fund brought in 2018, or $7.47 for every $1 from pension members.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 65.8 percent of the Glenside FPD Firefighters Pension Fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.