Without members and taxpayers subsidizing its revenue, the Flossmoor Police Pension Fund would have lost $209,744 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 $14,602,015 in total assets. If the fund’s annual losses stay the same, it would run out of money in 70 years without these subsidies.
The fund earned $766,448 in investment income and other revenue in 2018. At the same time, it paid out $976,192 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 $869,172 to the fund’s revenue last year – an amount that has increased from $487,746 five years ago. Members contributed an additional $189,051 – $35,242 more than five years ago.
In all, subsidies amounted to $1,058,223 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $766,448 | $976,192 | -$209,744 |
| 2017 | $1,126,220 | $936,529 | $189,691 |
| 2016 | -$113,044 | $917,499 | -$1,030,543 |
| 2015 | $915,644 | $856,268 | $59,376 |
| 2014 | $1,022,050 | $846,367 | $175,683 |
