Pension funds in Mokena, Joliet and Frankfort would go bankrupt first 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 will go bankrupt first?
Rank
Fund
City
Total Non-Subsidy Revenue
Total Expenses
Total Annual Loss without Subsidy
Years Until Assets Spent
1
Mokena Police Pension Fund
Mokena
$493,216
$526,176
-$32,960
0
2
Joliet Police Pension Fund
Joliet
$12,454,199
$12,937,825
-$483,626
0
3
Frankfort FPD Firefighters Pension Fund
Frankfort
$124,095
$166,477
-$42,382
0
4
Joliet Firefighters Pension Fund
Joliet
$8,839,152
$10,245,059
-$1,405,907
0
5
Lockport Police Pension Fund
Lockport
$1,071,358
$1,301,709
-$230,351
0
6
Plainfield Police Pension Fund
Plainfield
-$72,645
$467,760
-$540,405
0
7
Crest Hill Police Pension Fund
Crest Hill
$99,274
$842,203
-$742,929
0
8
University Park Firefighters Pension Fund
University Park
$65,701
$349,732
-$284,031
0
9
New Lenox Police Pension Fund
New Lenox
-$264,176
$623,201
-$887,377
0
10
Crete Police Pension Fund
Crete
-$106,943
$280,316
-$387,259
0
11
Bolingbrook Police Pension Fund
Bolingbrook
$622,538
$3,925,703
-$3,303,165
0
12
Braidwood Police Pension Fund
Braidwood
$40,948
$236,005
-$195,057
0
13
University Park Policemen's Pension Fund
University Park
-$4,386
$442,305
-$446,691
0
14
Romeoville Police Pension Fund
Romeoville
-$480,027
$1,781,023
-$2,261,050
0
15
Frankfort Police Pension Fund
Frankfort
-$171,523
$603,852
-$775,375
0
16
Wilmington Police Pension Fund
Wilmington
-$42,810
$313,832
-$356,642
0
17
Lockport Township FPD Pension Fund
Romeoville
-$917,713
$2,240,243
-$3,157,956
0
18
Bolingbrook Firefighters Pension Fund
Bolingbrook
-$918,991
$3,482,265
-$4,401,256
0
19
Plainfield FPD Firefighters Pension Fund
Plainfield
$1,071,725
$129,682
$942,043
19
20
Mokena FPD Firefighters Pension Fund
Mokena
$310,499
$165,139
$145,360
78
ORGANIZATIONS IN THIS STORY
Bolingbrook Firefighters Pension Fund• Braidwood Police Pension Fund• University Park Firefighters Pension Fund• Crest Hill Police Pension Fund• Romeoville Police Pension Fund• Wilmington Police Pension Fund• Crete Police Pension Fund• Bolingbrook Police Pension Fund• New Lenox Police Pension Fund• Frankfort Fire Department Firefighters Pension Fund• University Park Policemen's Pension Fund• Plainfield Fire Protection District Firefighters Pension Fund• Lockport Police Pension Fund• Mokena Fire Department Firefighters Pension Fund• Joliet Police Pension Fund• Plainfield Police Pension Fund• Joliet Firefighters Pension Fund• Frankfort Police Pension Fund• Mokena Police Pension Fund• Lockport Township Fire Department Pension Fund
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