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Dupage Policy Journal

Sunday, December 22, 2024

Analysis: Burr Ridge Police Pension Fund would go broke in 18 years without taxpayer subsidy

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Without members and taxpayers subsidizing its revenue, Burr Ridge Police Pension Fund lost $880,619 in 2016, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $15,441,428 in total assets. If the funds annual losses were the same, it would run out of money in 18 years without these subsidies.

The fund earned $49,046 in investment income and other revenue in 2016. At the same time, it paid out $929,665 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.

Taxpayers added $593,000 to the funds revenue last year – an amount that has increased from $553,333 five years ago. Members contributed an additional $235,261 – $24,964 more than five years ago.

In all, subsidies amounted to $828,261 in 2016.

Burr Ridge Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016$49,046$929,665-$880,619
2015$1,058,986$834,034$224,952
2014$1,083,590$800,830$282,760
2013$1,149,894$696,688$453,206
2012$611,547$713,823-$102,276

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