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Dupage Policy Journal

Tuesday, November 19, 2024

Analysis: Lisle Police Pension Fund would go broke in 20 years without taxpayer subsidy

Money272

Without members and taxpayers subsidizing its revenue, Lisle Police Pension Fund lost $1,336,030 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 $25,950,230 in total assets. If the funds annual losses were the same, it would run out of money in 20 years without these subsidies.

The fund lost $17,769 in investment income and other revenue in 2016. At the same time, it paid out $1,318,261 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 $939,671 to the funds revenue last year – an amount that has increased from $889,669 five years ago. Members contributed an additional $359,327 – $23,761 more than five years ago.

In all, subsidies amounted to $1,298,998 in 2016.

Lisle Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016-$17,769$1,318,261-$1,336,030
2015$1,851,921$1,161,693$690,228
2014$1,629,615$1,091,462$538,153
2013$1,624,741$978,861$645,880
2012$859,019$948,251-$89,232

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