Analysis: West Chicago FPD Firefighters Pension Fund would go broke in 17 years without taxpayer subsidy
The fund has $29,279,325 in total assets. If the funds annual losses were the same, it would run out of money in 17 years without these subsidies.
The fund lost $383,871 in investment income and other revenue in 2016. At the same time, it paid out $1,387,077 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 $628,104 to the funds revenue last year – an amount that has increased from $594,229 five years ago. Members contributed an additional $360,956 – $2,944 less than five years ago.
In all, subsidies amounted to $989,060 in 2016.