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.
Pension funds in Lombard, Oakbrook Terrace and Oak Brook would go bankrupt first without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.
Pension funds in Lombard, Oakbrook Terrace and Oak Brook would go bankrupt first without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 76.1 percent of the Lombard Firefighters Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 74.8 percent of the $2,721,768 the Lombard Firefighters Pension Fund brought in last year, or $3.48 for every $1 from pension members.
The Lombard Firefighters Pension Fund had 65 active participants receiving an average salary of $97,807 in 2016, 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 Lombard Firefighters Pension Fund netted 5.02 percent on its investments in 2016, according to 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, 70.6 percent of the Lombard Firefighters Pension Fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 81.9 percent of the $3,498,328 the Lombard Firefighters Pension Fund brought in 2018, or $4.59 for every $1 from pension members.
Without members and taxpayers subsidizing its revenue, the Lombard Firefighters Pension Fund would have lost $5,989,530 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
After projecting its investments would grow by 6.5 percent, the Lombard Firefighters Pension Fund lost 4.1 percent on its investments in 2018, according to data reported to the Illinois Department of Insurance Pension Division.
For fiscal year 2024, the Lombard Firefighters Pension Fund was 478th among Illinois pension funds in underfunding, with just 80.1% of promised retirement benefits supported by actuarial assets, the Illinois Department of Insurance reports.
In fiscal year 2024, Lombard held the 114th highest for per-household police and fire pension debt in Illinois, reaching $7,919, according to the Illinois Department of Insurance.