Analysis: Glendale Heights Police Pension Fund would go broke in 18 years without taxpayer subsidy
The fund has $34,652,783 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 $55,607 in investment income and other revenue in 2016. At the same time, it paid out $1,987,093 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 $1,643,176 to the funds revenue last year – an amount that has increased from $1,599,173 five years ago. Members contributed an additional $491,338 – $41,591 more than five years ago.
In all, subsidies amounted to $2,134,514 in 2016.