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.
The Lombard Police Pension Fund faced $42,287,424 in unfunded liabilities during 2024, making it 31.5% short of the assets required to meet all retirement benefit commitments.
After projecting its investments would grow by 6.5 percent, the Lombard Police Pension Fund lost 3.7 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 Lombard Police Pension Fund would have lost $7,167,200 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 84.2 percent of the $4,288,408 the Lombard Police Pension Fund brought in 2018, or $5.43 for every $1 from pension members.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 64.3 percent of the Lombard Police Pension Fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Lombard is taking positive steps in the wake of news this past summer about actuary Timothy W. Sharpe's suspension that prompted one lawmaker to call for pension plans to be recalculated and reviewed, a village finance official said during a recent interview.
The Lombard Police Pension Fund had 69 active participants receiving an average salary of $95,500 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 Police Pension Fund netted 5.27 percent on its investments in 2016, according to data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 80.8 percent of the $3,632,378 the Lombard Police Pension Fund brought in last year, or $4.22 for every $1 from pension members.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 68.2 percent of the Lombard Police Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
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.
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.