Analysis: These 4 Will County pension funds sustain themselves without subsidies
Pension funds in Peotone, New Lenox and Mokena could sustain themselves longest without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.
Pension funds record revenue from investment income and other revenue, in addition to being subsidized by municipal taxes and member contributions. Taking those subsidies out of the equation and assuming the funds' annual expenses are the same, the following table shows how long it would take for a pension fund to run out of money.
Which Will County pension funds are self-sustaining?
|Fund||City||Total Non-Subsidy Revenue||Total Expenses||Total Annual Loss without Subsidy||Years Until Assets Spent|
|Peotone FPD Firefighters Pension Fund||Peotone||$14,176||$9,703||$4,473||324.83|
|New Lenox FPD Firefighters Pension Fund||New Lenox||$160,533||$114,764||$45,769||81.26|
|Mokena FPD Firefighters Pension Fund||Mokena||$310,499||$165,139||$145,360||78.16|
|Plainfield FPD Firefighters Pension Fund||Plainfield||$1,071,725||$129,682||$942,043||19.48|
Organizations in this Story
Bolingbrook Firefighters Pension Fund • Bolingbrook Police Pension Fund • Braidwood Police Pension Fund • Crest Hill Police Pension Fund • Crete Police Pension Fund • Frankfort Fire Department Firefighters Pension Fund • Frankfort Police Pension Fund • Joliet Firefighters Pension Fund • Lockport Police Pension Fund • Lockport Township Fire Department Pension Fund • Mokena Fire Department Firefighters Pension Fund • New Lenox Fire Protection District Firefighters Pension Fund • New Lenox Police Pension Fund • Peotone Fire Department Firefighters Pension Fund • Plainfield Fire Protection District Firefighters Pension Fund • Plainfield Police Pension Fund • Romeoville Police Pension Fund • University Park Firefighters Pension Fund • University Park Policemen's Pension Fund • Wilmington Police Pension Fund