Analysis: New Lenox Police Pension Fund would go broke in 20 years without taxpayer subsidy
The fund has $17,430,562 in total assets. If the funds annual losses were the same, it would run out of money in 20 years without these subsidies.
The fund lost $264,176 in investment income and other revenue in 2016. At the same time, it paid out $623,201 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 $1,036,551 to the funds revenue last year – an amount that has increased from $797,917 five years ago. Members contributed an additional $349,488 – $26,415 more than five years ago.
In all, subsidies amounted to $1,386,039 in 2016.