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Dupage Policy Journal

Monday, November 25, 2024

Analysis: Villa Park Police Pension Fund would go bankrupt in nine years without taxpayer subsidy

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Without members and taxpayers subsidizing its revenue, the Villa Park Police Pension Fund would have lost $3,205,386 in 2018, according to a DuPage Policy Journal analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $27,424,788 in total assets. If the fund’s annual losses stay the same, it would run out of money in nine years without these subsidies.

The fund lost $1,057,986 in investment income and other revenue in 2018. At the same time, it paid out $2,147,400 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.

Taxpayers added $1,857,093 to the fund’s revenue last year – an amount that has increased from $1,197,766 five years ago. Members contributed an additional $222,761 – $72,345 less than five years ago.

In all, subsidies amounted to $2,079,854 in 2018.

Villa Park Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2018-$1,057,986$2,147,400-$3,205,386
2017$2,369,301$2,852,954-$483,653
2016-$126,411$2,531,982-$2,658,393
2015$2,124,141$2,363,906-$239,765
2014$1,949,518$2,242,088-$292,570

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