Without members and taxpayers subsidizing its revenue, the Evergreen Park Police Pension Fund would have lost $2,414,776 in 2018, according to a South Cook News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
The fund has $50,338,988 in total assets. If the fund’s annual losses stay the same, it would run out of money in 21 years without these subsidies.
The fund earned $959,345 in investment income and other revenue in 2018. At the same time, it paid out $3,374,121 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 $1,227,063 to the fund’s revenue last year – an amount that has increased from $929,407 five years ago. Members contributed an additional $540,593 – $7,520 more than five years ago.
In all, subsidies amounted to $1,767,656 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $959,345 | $3,374,121 | -$2,414,776 |
| 2017 | $6,042,314 | $3,220,191 | $2,822,123 |
| 2016 | $684,758 | $2,795,226 | -$2,110,468 |
| 2015 | $689,908 | $2,642,206 | -$1,952,298 |
| 2014 | $3,442,991 | $2,268,644 | $1,174,347 |
