Villa Park Firefighters Pension Fund places 399th in Illinois for police, fire pension underfunding in 2024
In 2024, the Villa Park Firefighters Pension Fund was listed as the 399th most underfunded police and fire pension system in Illinois, based on figures from the Illinois Department of Insurance (IDOI).
This pension fund, which is managed under the state’s Village or Township system framework, disclosed $39,435,839 in total pension obligations and reported an actuarial asset value of $28,682,470.
The funding ratio reached 72.7%, indicating a 27.3% shortfall in the assets required to fully meet promised pension benefits.
This gap between assets and obligations meant an unfunded liability of about $10,753,369 for the Villa Park system.
The Illinois Department of Insurance monitors and reports on the financial health of municipal police and fire pension funds, which are backed by local taxpayers.
As of 2024, local governments in Illinois maintained 300 fire and 363 police pension funds. Some municipalities operate both funds, while others support only one.Some towns do not have any unfunded pension liabilities. In 2024, 64 municipalities reported fully funded police or fire pension systems and were not included in the rankings.
Police and fire pensions, also known as "pension benefits," serve as deferred compensation. Elected officials pledge retirement benefits to public safety employees, but at times do not secure sufficient contributions from workers or the public. This gap leads to growing pension debt that is ultimately transferred to future residents. Municipalities finance these systems primarily through yearly contributions, funded in large part by property taxes, as shown in IDOI data.
In 2024, the state’s police and fire pension funds averaged a 65.1% funding ratio, underscoring the extent of underfunding throughout Illinois' local public safety pension systems.
The system reporting the lowest funding ratio statewide was the Glencoe Firefighters Pension Fund, at just 0.9%.
On the other hand, the Savoy Firefighters Pension Fund was the best funded, with a funding ratio of 797.7% and an actuarial asset total of $149,803—well surpassing its liabilities.
Illinois' state pension debt rose by $1.5 billion during 2024, pushing the statewide total to $143.7 billion, according to the Commission on Government Forecasting and Accountability. This brought the debt under the 20-year record of $144.2 billion recorded in 2020, marking the third year in a row of increasing liabilities.
The State Department of Insurance Public Pension Division reported that suburban and downstate funds in Illinois had $12.1 billion in unfunded accrued liabilities for 2024, combining for a 49.18% funding ratio. This meant these funds lacked more than half the assets required to fulfill their pension promises.
In 2024, Illinois had the nation’s highest share of state GDP tied to unfunded pension liabilities, approaching 20%, according to research by the Equable Institute.
The Illinois Policy Institute, which identifies as nonpartisan, contends this situation results in an increasing tax burden for Illinois residents. The organization notes taxpayer contributions to state pensions rose from $614 million in fiscal year 1996 to $11.2 billion in fiscal year 2025.
| Rank | Pension Fund | City | Fund Type | Funding % | Unfunded Liability | Total Liabilities |
|---|---|---|---|---|---|---|
| 1 | Glencoe Firefighters Pension Fund | Glencoe | Village or Township | 0.9% | $178,203 | $179,832 |
| 2 | South Chicago Heights Firefighters Pension Fund | South Chicago Heights | Village or Township | 2.8% | $491,701 | $505,700 |
| 3 | Bethany Firefighters Pension Fund | Bethany | Village or Township | 3.9% | $250,130 | $260,252 |
| 4 | Posen Firefighters Pension Fund | Posen | Village or Township | 6.8% | $1,013,154 | $1,086,589 |
| 5 | Nunda Rural FPD Firefighters Pension Fund | Crystal Lake | Fire Protection District | 8% | $155,069 | $168,587 |
| 6 | East St. Louis Firefighters Pension Fund | East St. Louis | City | 9.5% | $60,376,247 | $66,732,525 |
| 7 | Cairo Firefighters Pension Fund | Cairo | City | 10.9% | $4,757,521 | $5,338,526 |
| 8 | Riverdale Police Pension Fund | Riverdale | Village or Township | 14.9% | $45,058,163 | $52,928,748 |
| 9 | Washington Park Police Pension Fund | Caseyville | Village or Township | 17.3% | $2,295,422 | $2,775,919 |
| 10 | Lynwood Police Pension Fund | Lynwood | Village or Township | 17.5% | $13,417,550 | $16,254,380 |
| 11 | Stone Park Police Pension Fund | Stone Park | City | 21.4% | $17,485,225 | $22,232,105 |
| 12 | Harvey Firefighters Pension Fund | Harvey | City | 22% | $43,143,298 | $55,313,475 |
| 13 | Cairo Police Pension Fund | Cairo | Village or Township | 23.8% | $3,594,155 | $4,716,195 |
| 14 | Lincoln Firefighters Pension Fund | Lincoln | City | 24.3% | $17,964,106 | $23,728,200 |
| 15 | Burnham Police Pension Fund | Burnham | Village or Township | 25.8% | $7,033,692 | $9,481,825 |
| 16 | East Alton Police Pension Fund | East Alton | Village or Township | 29% | $7,752,199 | $10,913,295 |
| 16 | Danville Firefighters Pension Fund | Danville | City | 29% | $56,012,714 | $78,905,481 |
| 18 | North Chicago Police Pension Fund | North Chicago | City | 29.2% | $48,425,528 | $68,354,735 |
| 19 | Lyons Police Pension Fund | Lyons | Village or Township | 30.6% | $23,697,686 | $34,165,503 |
| 20 | Braidwood FPD Firefighters Pension Fund | Braidwood | Fire Protection District | 32% | $316,114 | $464,595 |
| 21 | Summit Police Pension Fund | Summit | City | 32.6% | $29,528,504 | $43,781,677 |
| 22 | Evergreen Park Firefighters Pension Fund | Evergreen Park | Village or Township | 32.7% | $2,456,722 | $3,650,796 |
| 23 | Blue Island Firefighters Pension Fund | Blue Island | City | 33.1% | $18,491,894 | $27,630,414 |
| 24 | Sauk Village Police Pension Fund | Sauk Village | Village or Township | 34.9% | $12,186,385 | $18,729,752 |
| 25 | Rock Island Firefighters Pension Fund | Rock Island | City | 35% | $57,571,195 | $88,569,214 |
| 26 | Wood Dale FPD Firefighters Pension Fund | Wood Dale | City | 35.1% | $32,350,412 | $49,829,895 |
| 27 | East Alton Firefighters Pension Fund | East Alton | Village or Township | 35.5% | $4,448,576 | $6,899,172 |
| 28 | Island Lake Police Pension Fund | Island Lake | Village or Township | 36.8% | $6,468,832 | $10,231,984 |
| 29 | Danville Police Pension Fund | Danville | City | 36.9% | $50,909,230 | $80,729,515 |
| 30 | Madison Police Pension Fund | Madison | City | 37.1% | $7,796,590 | $12,403,202 |
| 31 | Lincoln Police Pension Fund | Lincoln | City | 37.3% | $18,839,226 | $30,062,677 |
| 32 | Fairfield Police Pension Fund | Fairfield | City | 38% | $5,894,772 | $9,500,767 |
| 33 | Lansing Police Pension Fund | Lansing | Village or Township | 38.8% | $69,901,857 | $114,240,820 |
| 34 | Roberts Park FPD Firefighters Pension Fund | Justice | Fire Protection District | 39% | $17,530,740 | $28,746,543 |
| 35 | Forest Park Firefighters Pension Fund | Forest Park | Village or Township | 39.2% | $27,473,776 | $45,186,356 |
| 36 | Chicago Heights Firefighters Pension Fund | Chicago Heights | City | 39.3% | $62,391,745 | $102,720,418 |
| 37 | Rock Island Police Pension Fund | Rock Island | City | 39.7% | $73,031,157 | $121,052,017 |
| 37 | Orland Hills Police Pension Fund | Orland Hills | Village or Township | 39.7% | $6,319,400 | $10,478,984 |
| 39 | Worth Police Pension Fund | Worth | Village or Township | 39.8% | $21,860,053 | $36,333,997 |
| 39 | Blue Island Police Pension Fund | Blue Island | City | 39.8% | $32,059,062 | $53,267,960 |
| 41 | North Chicago Firefighters Pension Fund | North Chicago | City | 40.4% | $20,483,690 | $34,370,261 |
| 42 | Cicero Firefighters' Pension Fund | Cicero | Village or Township | 40.8% | $79,226,461 | $133,790,594 |
| 43 | Forest Park Police Pension Fund | Forest Park | Village or Township | 41% | $37,697,488 | $63,937,177 |
| 44 | Melrose Park Firefighters Pension Fund | Melrose Park | City | 41.1% | $61,238,248 | $103,986,729 |
| 45 | Kewanee Firefighters Pension Fund | Kewanee | Fire Protection District | 41.3% | $11,229,196 | $19,115,798 |
| 46 | North Riverside Firefighters Pension Fund | North Riverside | Village or Township | 42.2% | $18,334,006 | $31,699,557 |
| 47 | Willow Springs Police Pension Fund | Willow Springs | City | 42.3% | $7,186,960 | $12,450,998 |
| 48 | East St. Louis Police Pension Fund | East St. Louis | City | 42.8% | $31,710,417 | $55,399,611 |
| 49 | Mattoon Firefighters Pension Fund | Mattoon | City | 43.3% | $28,949,965 | $51,067,176 |
| 50 | Streator Firefighters Pension Fund | Streator | City | 43.7% | $9,841,102 | $17,489,034 |
| 51 | Pekin Firefighters Pension Fund | Pekin | City | 44.2% | $44,972,438 | $80,603,425 |
| 52 | Antioch Police Pension Fund | Antioch | Village or Township | 44.3% | $22,507,263 | $40,430,804 |
| 53 | Murphysboro Police Pension Fund | Murphysboro | City | 44.8% | $7,400,477 | $13,406,403 |
| 54 | Rockford Firefighters Pension Fund | Rockford | City | 45% | $243,720,485 | $442,821,841 |
| 55 | West Frankfort Police Pension Fund | West Frankfort | City | 45.1% | $8,460,333 | $15,416,610 |
| 56 | Cahokia Heights Police Pension Fund | Centreville | City | 45.3% | $19,664,032 | $35,981,323 |
| 57 | Hillside Police Pension Fund | Hillside | Village or Township | 45.9% | $28,601,329 | $52,865,931 |
| 58 | Oakbrook Terrace Fire Protection District Pension Fund | Oakbrook Terrace | City | 46% | $2,639,694 | $4,889,901 |
| 58 | Melrose Park Police Pension Fund | Melrose Park | Village or Township | 46% | $56,186,523 | $104,105,647 |
| 58 | Charleston Police Pension Fund | Charleston | City | 46% | $22,275,326 | $41,224,924 |
| 61 | Dekalb Firefighters Pension Fund | De Kalb | City | 46.1% | $52,987,441 | $98,225,613 |
| 62 | Oak Lawn Police Pension Fund | Oak Lawn | City | 46.3% | $117,769,104 | $219,171,942 |
| 62 | Stickney Police Pension Fund | Stickney | Village or Township | 46.3% | $11,415,170 | $21,246,665 |
| 64 | Canton Firefighters Pension Fund | Canton | City | 46.4% | $11,552,418 | $21,564,491 |
| 65 | North Riverside Police Pension Fund | North Riverside | Village or Township | 46.6% | $26,723,002 | $50,002,140 |
| 65 | Riverside Police Pension Fund | Riverside | City | 46.6% | $17,923,424 | $33,563,776 |
| 67 | Manhattan Police Pension Fund | Manhattan | Village or Township | 46.7% | $5,224,436 | $9,810,452 |
| 68 | Hillside Firefighters Pension Fund | Hillside | Village or Township | 47% | $19,279,606 | $36,391,365 |
| 68 | Lasalle Police Pension Fund | La Salle | Village or Township | 47% | $14,445,385 | $27,269,276 |
| 68 | River Grove Police Pension Fund | River Grove | Village or Township | 47% | $18,393,924 | $34,717,954 |
| 71 | Franklin Park Police Pension Fund | Franklin Park | Village or Township | 47.3% | $42,337,489 | $80,377,132 |
| 72 | Mattoon Police Pension Fund | Mattoon | City | 47.4% | $29,226,396 | $55,546,726 |
| 73 | West Frankfort Firefighters Pension Fund | West Frankfort | City | 47.6% | $5,931,509 | $11,320,574 |
| 74 | Park Forest Police Pension Fund | Park Forest | Village or Township | 47.7% | $33,109,771 | $63,259,495 |
| 75 | Jerseyville Police Pension Fund | Jerseyville | Village or Township | 47.8% | $8,021,268 | $15,361,077 |
| 76 | Marengo Police Pension Fund | Marengo | City | 47.9% | $8,865,811 | $17,022,277 |
| 76 | Maywood Police Pension Fund | Maywood | Village or Township | 47.9% | $40,650,996 | $78,048,329 |
| 78 | Charleston Firefighters Pension Fund | Charleston | City | 48.1% | $21,070,752 | $40,612,567 |
| 78 | Ottawa Firefighters Pension Fund | Ottawa | City | 48.1% | $21,080,148 | $40,601,081 |
| 78 | Matteson Firefighters Pension Fund | Matteson | Village or Township | 48.1% | $28,336,901 | $54,641,705 |
| 81 | Olympia Fields Police Pension Fund | Olympia Fields | Village or Township | 48.3% | $15,064,305 | $29,129,269 |
| 81 | Wayne Police Pension Fund | Wayne | Village or Township | 48.3% | $2,483,666 | $4,803,696 |
| 83 | Chicago Heights Police Pension Fund | Chicago Heights | Village or Township | 48.5% | $66,721,222 | $129,652,992 |
| 84 | Itasca Police Pension Fund | Itasca | Village or Township | 48.8% | $22,478,727 | $43,875,854 |
| 84 | Schiller Park Police Pension Fund | Schiller Park | Village or Township | 48.8% | $27,674,551 | $54,075,306 |
| 86 | Rockford Police Pension Fund | Rockford | City | 49.7% | $243,290,612 | $484,039,160 |
| 87 | Bridgeview Firefighters Pension Fund | Bridgeview | Village or Township | 49.8% | $31,729,816 | $63,208,657 |
| 88 | Carmi Police Pension Fund | Carmi | City | 49.9% | $5,017,333 | $10,004,863 |
| 89 | Savanna Firefighters Pension Fund | Savanna | City | 50% | $1,352,246 | $2,703,812 |
| 90 | Des Plaines Police Pension Fund | Des Plaines | Village or Township | 50.2% | $98,091,406 | $196,967,826 |
| 91 | South Chicago Heights Police Pension Fund | South Chicago Heights | City | 50.4% | $3,962,996 | $7,982,608 |
| 91 | Centralia Police Pension Fund | Centralia | City | 50.4% | $14,338,909 | $28,938,213 |
| 91 | Harrisburg Police Pension Fund | Harrisburg | City | 50.4% | $7,035,937 | $14,185,669 |
| 94 | Niles Police Pension Fund | Niles | City | 50.5% | $51,077,927 | $103,200,536 |
| 94 | Barrington Police Pension Fund | Barrington | Village or Township | 50.5% | $26,351,154 | $53,218,265 |
| 94 | Pontoon Beach Police Pension Fund | Pontoon Beach | Village or Township | 50.5% | $7,579,533 | $15,319,113 |
| 97 | Flossmoor Firefighters Pension Fund | Flossmoor | Village or Township | 50.6% | $3,521,600 | $7,132,460 |
| 98 | Caseyville Police Pension Fund | Caseyville | Village or Township | 50.7% | $3,440,097 | $6,979,835 |
| 98 | Zion Police Pension Fund | Zion | City | 50.7% | $37,726,460 | $76,487,262 |
| 100 | Springfield Firefighter's Pension Fund | Springfield | Village or Township | 50.8% | $173,150,294 | $352,156,867 |
Information for this article was sourced from the Illinois Department of Insurance (IDOI). View the full dataset here.