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Dupage Policy Journal

Tuesday, December 10, 2019

Analysis: Warrenville Police Pension Fund would go broke in 19 years without taxpayer subsidy

Local Government

By Local Labs News Service | May 16, 2018

Money041

Without members and taxpayers subsidizing its revenue, Warrenville Police Pension Fund lost $937,317 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 $16,971,787 in total assets. If the funds annual losses were the same, it would run out of money in 19 years without these subsidies.

The fund lost $77,671 in investment income and other revenue in 2016. At the same time, it paid out $859,646 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 $1,004,900 to the funds revenue last year – an amount that has increased from $877,705 five years ago. Members contributed an additional $264,105 – $15,440 more than five years ago.

In all, subsidies amounted to $1,269,005 in 2016.

Warrenville Police Pension Fund non-subsidy revenue over five years
Year
Total non-subsidy revenue
Total expenses
Outcome without subsidies
2016
-$77,671
$859,646
-$937,317
2015
$1,139,566
$674,103
$465,463
2014
$1,210,904
$591,414
$619,490
2013
$1,126,359
$492,912
$633,447
2012
$515,610
$411,165
$104,445

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Organizations in this Story

Warrenville Police Pension Fund

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