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Dupage Policy Journal

Sunday, May 5, 2024

Analysis: Wheaton Police Pension Fund would go broke in 13 years without taxpayer subsidy

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Without members and taxpayers subsidizing its revenue, Wheaton Police Pension Fund lost $3,881,083 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 $47,075,114 in total assets. If the funds annual losses were the same, it would run out of money in 13 years without these subsidies.

The fund lost $730,386 in investment income and other revenue in 2016. At the same time, it paid out $3,150,697 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 $2,000,982 to the funds revenue last year – an amount that has increased from $1,913,209 five years ago. Members contributed an additional $730,909 – $116,481 more than five years ago.

In all, subsidies amounted to $2,731,891 in 2016.

Wheaton Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016-$730,386$3,150,697-$3,881,083
2015$2,310,535$3,005,443-$694,908
2014$3,433,805$2,736,067$697,738
2013$3,738,918$2,580,838$1,158,080
2012$2,368,710$2,389,440-$20,730

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