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.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 73.5 percent of the Wheaton Firefighters Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Without members and taxpayers subsidizing its revenue, Wheaton Firefighters Pension Fund lost $1,793,298 in 2016, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 73.4 percent of the $1,376,129 the Wheaton Firefighters Pension Fund brought in last year, or $2.80 for every $1 from pension members.
After projecting its investments would grow by 6.75 percent, the Wheaton Firefighters Pension Fund lost 1.53 percent on its investments in 2016, according to data reported to the Illinois Department of Insurance Pension Division.
The Wheaton Firefighters Pension Fund had 37 active participants receiving an average salary of $99,559 in 2016, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Wheaton Firefighters Pension Fund Board of Trustees met Wednesday, May 8.
Wheaton Firefighters Pension Fund Board: met Wednesday, Sept. 25.
With the amount it's obligated to pay pensioners outpacing the funds it has on hand, 73.1 percent of the Wheaton Firefighters Pension Fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.
Without members and taxpayers subsidizing its revenue, the Wheaton Firefighters Pension Fund would have lost $2,665,994 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
Taxpayers contributed 85.5 percent of the $1,744,257 the Wheaton Firefighters Pension Fund brought in 2018, or $5.89 for every $1 from pension members.
After projecting its investments would grow by 6.5 percent, the Wheaton Firefighters Pension Fund lost 5.2 percent on its investments in 2018, according to data reported to the Illinois Department of Insurance Pension Division.
The Wheaton Firefighters Pension Fund reported unfunded liabilities of -$1,057,154 in 2024, leaving the system -1.8% short of having enough assets to fully meet its retirement benefit commitments.
In fiscal year 2024, Wheaton held the 13th lowest for per-household police and fire pension debt in Illinois, reaching $278, according to the Illinois Department of Insurance.