In 2016, Park Forest's firefighters' pension fund paid out over $1 million in benefits and made $200K from investments.
In 2016, Park Forest's firefighters' pension fund paid out over $1 million in benefits and made $200K from investments.
Seventy-five of southern Cook County’s 80 police and fire pension funds paid out a total of $100.2 million in benefits to 1,979 retirees and inactive recipients in 2016 while losing $5,109,268 on their investments, according to a South Cook News analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
South Cook News analyzed financials reported by firefighter and police funds across southern Cook County, including Calumet City, Chicago Heights, Oak Lawn, Palos Heights and Park Forest. Collectively, the 75 funds hold approximately $1.3 billion in assets and paid out $110.2 million more in 2016 than they earned, including $3.8 million in fees to investment advisers, according to the filings.
Full financial filings were not made available for the Homewood Firefighters, Homewood Police, Robbins FPD, Summit Police or Worth Fire funds.
$67 million from South Cook County property taxpayers
Southern Cook County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $67,787,754.
Orland Park property taxpayers paid the most to pension funds, at $5.70 million in 2016. The city’s funds made a total of $213,972, spending $609,799 on investment adviser fees.
Calumet City property taxpayers contributed $5.58 million to their city’s funds, followed by Oak Lawn ($4,915,050) and Chicago Heights ($4,867,274).
Thirty-six of the 75 funds lost money in 2016, when the S&P 500 returned 12 percent.
Oak Lawn’s police officers’ fund lost $1.62 million on $73.93 million in assets (-2.20 percent) and paid out $6.33 million in benefits.
Oak Lawn’s firefighters’ fund lost $1.61 million on $72.74 million in assets (-2.22 percent) and paid out $5.93 million in benefits.
Calumet City’s police officers’ fund lost $1.08 million on $45.21 million in assets (-2.39 percent) and paid out $3.74 million in benefits.
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South Cook County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Alsip Firefighters Pension Fund | $1,872,896 | $5,495 | $98,690 | -$1,966,091 |
| Alsip Police Pension Fund | $2,721,441 | $30,415 | $99,230 | -$2,790,255 |
| Blue Island Firefighters Pension Fund | $819,391 | -$33,356 | $13,714 | -$866,461 |
| Blue Island Police Pension Fund | $1,641,553 | $53,251 | $25,551 | -$1,613,853 |
| Bridgeview Firefighters Pension Fund | $1,987,125 | $378,137 | $59,067 | -$1,668,054 |
| Bridgeview Police Pension Fund | $1,761,348 | $336,269 | $53,013 | -$1,478,092 |
| Burbank Firefighters Pension Fund | $1,306,338 | $363,037 | $84,394 | -$1,027,695 |
| Burbank Police Pension Fund | $1,908,516 | -$31,250 | $155,247 | -$2,095,013 |
| Burnham Police Pension Fund | $367,429 | $7,961 | $0 | -$359,467 |
| Calumet City Firefighters Pension Fund | $2,954,015 | -$523,314 | $48,378 | -$3,525,707 |
| Calumet City Police Pension Fund | $3,748,963 | -$1,081,551 | $106,221 | -$4,936,735 |
| Calumet Park Police Pension Fund | $864,922 | -$32,430 | $6,857 | -$904,209 |
| Chicago Heights Firefighters Pension Fund | $4,311,511 | $358,276 | $71,086 | -$4,024,321 |
| Chicago Heights Police Pension Fund | $4,172,909 | -$429,115 | $116,961 | -$4,718,984 |
| Country Club Hills Firefighters Pension Fund | $557,208 | $27,818 | $34,935 | -$564,324 |
| Country Club Hills Police Pension Fund | $1,576,046 | -$318,978 | $131,717 | -$2,026,741 |
| Crestwood Police Pension Fund | $89,565 | $96 | $21 | -$89,490 |
| Dolton Firefighters Pension Fund | $873,808 | -$338,885 | $32,398 | -$1,245,091 |
| Dolton Police Pension Fund | $1,750,239 | -$413,315 | $38,102 | -$2,201,656 |
| Evergreen Park Firefighters Pension Fund | $232,076 | $9,617 | $1 | -$222,460 |
| Evergreen Park Police Pension Fund | $2,763,253 | $837,402 | $153,147 | -$2,078,998 |
| Flossmoor Firefighters Pension Fund | $231,409 | -$1,344 | $395 | -$233,147 |
| Flossmoor Police Pension Fund | $896,495 | -$74,805 | $36,130 | -$1,007,430 |
| Glenwood Firefighters Pension Fund | $184,016 | $54,650 | $8,240 | -$137,606 |
| Glenwood Police Pension Fund | $271,427 | -$91,288 | $3,855 | -$366,570 |
| Harvey Firefighters Pension Fund | $2,012,611 | -$205,878 | $71,553 | -$2,290,041 |
| Harvey Police Pension Fund | $1,584,446 | -$224,970 | $65,883 | -$1,875,300 |
| Hazel Crest Firefighters Pension Fund | $420,796 | $93,761 | $21,657 | -$348,692 |
| Hazel Crest Police Pension Fund | $1,172,102 | $189,600 | $22,211 | -$1,004,713 |
| Hickory Hills Police Pension Plan | $1,203,835 | -$771,459 | $0 | -$1,975,294 |
| Justice Firefighters Pension Fund | $58,243 | $977 | $65 | -$57,330 |
| Justice Police Pension Fund | $564,192 | $63,902 | $45,132 | -$545,423 |
| Lansing Firefighters Pension Fund | $1,079,777 | $17,438 | $46,519 | -$1,108,858 |
| Lansing Police Pension Fund | $3,163,706 | -$15,682 | $79,271 | -$3,258,658 |
| Lemont FPD Firefighters Pension Fund | $491,983 | $340,800 | $55,558 | -$206,741 |
| Lemont Police Pension Fund | $696,139 | -$157,050 | $27,353 | -$880,542 |
| Lynwood Police Pension Fund | $337,551 | $25,865 | $1,958 | -$313,645 |
| Markham Firefighters Pension Fund | $126,609 | -$11,585 | $5,641 | -$143,834 |
| Markham Police Pension Fund | $903,646 | -$215,899 | $54,935 | -$1,174,480 |
| Matteson Firefighters Pension Fund | $1,710,576 | -$322,160 | $71,382 | -$2,104,118 |
| Matteson Police Pension FUnd | $1,762,338 | -$277,293 | $43,022 | -$2,082,653 |
| Midlothian Firefighters Pension Fund | $920,701 | -$17,336 | $10,464 | -$948,501 |
| Midlothian Police Pension Fund | $861,674 | $281,107 | $69,475 | -$650,042 |
| North Palos FPD Firefighters Pension Fund | $404,096 | $32,715 | $51,903 | -$423,285 |
| Oak Forest Firefighters Pension Fund | $1,032,508 | $185,722 | $57,050 | -$903,836 |
| Oak Forest Police Pension Fund | $1,960,073 | -$474,171 | $155,097 | -$2,589,341 |
| Oak Lawn Firefighters Pension Fund | $5,934,634 | -$1,617,602 | $104,038 | -$7,656,274 |
| Oak Lawn Police Pension Fund | $6,338,152 | -$1,625,000 | $105,731 | -$8,068,882 |
| Olympia Fields Police Pension Fund | $853,704 | $62,288 | $16,468 | -$807,883 |
| Orland FPD Firefighters Pension Fund | $3,766,976 | $1,080,331 | $236,303 | -$2,922,948 |
| Orland Hills Police Pension Fund | $363,616 | $55,404 | $5,466 | -$313,678 |
| Orland Park Police Pension Fund | $3,068,722 | -$866,359 | $373,496 | -$4,308,577 |
| Palos FPD Pension Fund | $489,593 | $122,759 | $95,240 | -$462,073 |
| Palos Heights FPD Pension Fund | $475,514 | $136,587 | $25,546 | -$364,473 |
| Palos Heights Police Pension Fund | $1,623,718 | $253,835 | $41,683 | -$1,411,566 |
| Palos Hills Police Pension Fund | $1,297,044 | -$159,778 | $42,789 | -$1,499,611 |
| Palos Park Police Pension Fund | $118,504 | $58,214 | $9,178 | -$69,468 |
| Park Forest Firefighters Pension Fund | $1,152,492 | $205,016 | $38,066 | -$985,542 |
| Park Forest Police Pension Fund | $2,201,354 | $482,765 | $64,378 | -$1,782,967 |
| Posen Firefighters Pension Fund | $90,128 | $1,688 | $2,914 | -$91,353 |
| Posen Police Pension Fund | $130,423 | -$148,085 | $0 | -$278,508 |
| Richton Park Police Pension Fund | $1,126,673 | -$90,613 | $53,236 | -$1,270,521 |
| Riverdale Firefighters Pension Fund | $300,005 | -$105,068 | $20,792 | -$425,865 |
| Riverdale Police Pension Fund | $1,847,953 | -$99,391 | $37,854 | -$1,985,198 |
| Robbins Police Pension Fund | $65,436 | $58 | $0 | -$65,378 |
| Sauk Village Firefighters Pension Fund | $40,441 | $8,297 | $0 | -$32,144 |
| Sauk Village Police Pension Fund | $529,838 | -$15,671 | $10,527 | -$556,035 |
| South Chicago Heights Firefighters Pension Fund | $23,324 | $16 | $0 | -$23,308 |
| South Chicago Heights Police Pension Fund | $303,622 | -$42,516 | $13,991 | -$360,129 |
| South Holland Firefighters Pension Fund | $565,958 | -$119,149 | $37,490 | -$722,596 |
| South Holland Police Pension Fund | $1,660,791 | -$320,233 | $71,976 | -$2,053,001 |
| Tinley Park Police Pension Fund | $2,864,866 | -$54,847 | $106,733 | -$3,026,446 |
| Willow Springs Firefighters Pension Fund | $32,940 | $5,450 | $2,000 | -$29,490 |
| Willow Springs Police Pension Fund | $386,430 | $25,153 | $4,471 | -$365,749 |
| Worth Police Pension Fund | $1,255,587 | $25,985 | $24,972 | -$1,254,574 |
| TOTAL | $101,239,934 | -$5,109,268 | $3,878,815 | -$110,228,017 |
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Alsip Firefighters Pension Fund | $1,872,896 | 35 | 35 | $1,541,749 | $313,228 |
| Alsip Police Pension Fund | $2,721,441 | 37 | 40 | $2,388,524 | $351,042 |
| Blue Island Firefighters Pension Fund | $819,391 | 27 | 20 | $414,266 | $102,431 |
| Blue Island Police Pension Fund | $1,641,553 | 37 | 34 | $1,393,531 | $270,367 |
| Bridgeview Firefighters Pension Fund | $1,987,125 | 43 | 25 | $1,447,474 | $307,461 |
| Bridgeview Police Pension Fund | $1,761,348 | 35 | 33 | $1,335,459 | $277,371 |
| Burbank Firefighters Pension Fund | $1,306,338 | 24 | 32 | $604,957 | $248,593 |
| Burbank Police Pension Fund | $1,908,516 | 30 | 53 | $1,019,885 | $446,123 |
| Burnham Police Pension Fund | $367,429 | 8 | 10 | $234,513 | $57,805 |
| Calumet City Firefighters Pension Fund | $2,954,015 | 51 | 56 | $2,338,590 | $489,874 |
| Calumet City Police Pension Fund | $3,748,963 | 75 | 86 | $3,243,000 | $739,948 |
| Calumet Park Police Pension Fund | $864,922 | 18 | 18 | $665,596 | $127,409 |
| Chicago Heights Firefighters Pension Fund | $4,311,511 | 75 | 63 | $2,339,408 | $423,699 |
| Chicago Heights Police Pension Fund | $4,172,909 | 72 | 82 | $2,527,866 | $669,631 |
| Country Club Hills Firefighters Pension Fund | $557,208 | 13 | 17 | $536,703 | $147,406 |
| Country Club Hills Police Pension Fund | $1,576,046 | 26 | 31 | $1,076,041 | $534,829 |
| Crestwood Police Pension Fund | $89,565 | 5 | 5 | $201,573 | $29,822 |
| Dolton Firefighters Pension Fund | $873,808 | 18 | 18 | $499,389 | $151,144 |
| Dolton Police Pension Fund | $1,750,239 | 40 | 41 | $787,728 | $325,100 |
| Evergreen Park Firefighters Pension Fund | $232,076 | 4 | 1 | $141,389 | $13,713 |
| Evergreen Park Police Pension Fund | $2,763,253 | 44 | 61 | $1,037,487 | $559,357 |
| Flossmoor Firefighters Pension Fund | $231,409 | 3 | 3 | $251,619 | $36,207 |
| Flossmoor Police Pension Fund | $896,495 | 14 | 19 | $571,732 | $267,982 |
| Glenwood Firefighters Pension Fund | $184,016 | 6 | 3 | $76,342 | $24,009 |
| Glenwood Police Pension Fund | $271,427 | 19 | 22 | $142,983 | $79,117 |
| Harvey Firefighters Pension Fund | $2,012,611 | 71 | 49 | $398,566 | $325,795 |
| Harvey Police Pension Fund | $1,584,446 | 53 | 55 | $110,219 | $324,861 |
| Hazel Crest Firefighters Pension Fund | $420,796 | 14 | 17 | $176,241 | $113,672 |
| Hazel Crest Police Pension Fund | $1,172,102 | 23 | 28 | $577,064 | $210,587 |
| Hickory Hills Police Pension Plan | $1,203,835 | 20 | 28 | $800,000 | $238,930 |
| Justice Firefighters Pension Fund | $58,243 | 0 | 0 | $5,514 | $0 |
| Justice Police Pension Fund | $564,192 | 13 | 23 | $509,027 | $391,181 |
| Lansing Firefighters Pension Fund | $1,079,777 | 19 | 26 | $1,012,630 | $218,944 |
| Lansing Police Pension Fund | $3,163,706 | 55 | 54 | $2,670,076 | $561,720 |
| Lemont FPD Firefighters Pension Fund | $491,983 | 15 | 54 | $1,514,889 | $463,195 |
| Lemont Police Pension Fund | $696,139 | 15 | 27 | $627,560 | $233,598 |
| Lynwood Police Pension Fund | $337,551 | 6 | 24 | $203,555 | $138,968 |
| Markham Firefighters Pension Fund | $126,609 | 4 | 18 | $378,155 | $111,668 |
| Markham Police Pension Fund | $903,646 | 23 | 37 | $955,232 | $263,551 |
| Matteson Firefighters Pension Fund | $1,710,576 | 26 | 35 | $1,085,233 | $258,756 |
| Matteson Police Pension FUnd | $1,762,338 | 34 | 37 | $1,170,136 | $303,962 |
| Midlothian Firefighters Pension Fund | $920,701 | 19 | 16 | $357,591 | $107,917 |
| Midlothian Police Pension Fund | $861,674 | 21 | 28 | $249,587 | $201,370 |
| North Palos FPD Firefighters Pension Fund | $404,096 | 15 | 31 | $578,109 | $302,103 |
| Oak Forest Firefighters Pension Fund | $1,032,508 | 20 | 25 | $902,556 | $199,283 |
| Oak Forest Police Pension Fund | $1,960,073 | 33 | 40 | $1,429,805 | $349,092 |
| Oak Lawn Firefighters Pension Fund | $5,934,634 | 108 | 74 | $2,457,525 | $739,439 |
| Oak Lawn Police Pension Fund | $6,338,152 | 104 | 109 | $2,457,525 | $1,068,805 |
| Olympia Fields Police Pension Fund | $853,704 | 14 | 19 | $759,609 | $161,874 |
| Orland FPD Firefighters Pension Fund | $3,766,976 | 60 | 108 | $3,293,073 | $1,150,791 |
| Orland Hills Police Pension Fund | $363,616 | 9 | 9 | $228,579 | $186,652 |
| Orland Park Police Pension Fund | $3,068,722 | 47 | 94 | $2,412,752 | $959,061 |
| Palos FPD Pension Fund | $489,593 | 5 | 29 | $832,890 | $273,265 |
| Palos Heights FPD Pension Fund | $475,514 | 11 | 22 | $429,487 | $168,390 |
| Palos Heights Police Pension Fund | $1,623,718 | 23 | 27 | $1,325,573 | $249,211 |
| Palos Hills Police Pension Fund | $1,297,044 | 25 | 31 | $1,027,227 | $258,502 |
| Palos Park Police Pension Fund | $118,504 | 4 | 9 | $200,000 | $74,670 |
| Park Forest Firefighters Pension Fund | $1,152,492 | 25 | 25 | $928,036 | $201,078 |
| Park Forest Police Pension Fund | $2,201,354 | 42 | 41 | $1,432,501 | $389,326 |
| Posen Firefighters Pension Fund | $90,128 | 1 | 0 | $44,750 | $0 |
| Posen Police Pension Fund | $130,423 | 5 | 14 | $167,814 | $94,498 |
| Richton Park Police Pension Fund | $1,126,673 | 20 | 28 | $591,377 | $207,031 |
| Riverdale Firefighters Pension Fund | $300,005 | 10 | 18 | $161,962 | $108,941 |
| Riverdale Police Pension Fund | $1,847,953 | 32 | 35 | $735,142 | $217,213 |
| Robbins Police Pension Fund | $65,436 | 3 | 0 | $201,241 | $0 |
| Sauk Village Firefighters Pension Fund | $40,441 | 1 | 0 | $10,875 | $0 |
| Sauk Village Police Pension Fund | $529,838 | 29 | 22 | $193,171 | $141,687 |
| South Chicago Heights Firefighters Pension Fund | $23,324 | 1 | 0 | $11,256 | $0 |
| South Chicago Heights Police Pension Fund | $303,622 | 6 | 5 | $133,108 | $75,304 |
| South Holland Firefighters Pension Fund | $565,958 | 12 | 23 | $489,984 | $191,032 |
| South Holland Police Pension Fund | $1,660,791 | 39 | 46 | $1,014,454 | $397,143 |
| Tinley Park Police Pension Fund | $2,864,866 | 43 | 76 | $2,301,390 | $887,769 |
| Willow Springs Firefighters Pension Fund | $32,940 | 2 | 0 | $33,935 | $0 |
| Willow Springs Police Pension Fund | $386,430 | 16 | 14 | $580,538 | $52,412 |
| Worth Police Pension Fund | $1,255,587 | 24 | 23 | $802,434 | $200,578 |
| TOTAL | $101,239,934 | 1,979 | 2,361 | $67,787,754 | $20,767,493 |
Retirees/Inactive Recipients, Active Members as of 2014
Note: Full financial filings were not made available for the following funds: Homewood Firefighters, Homewood Police, Robbins FPD, Summit Police, and Worth Fire.
ORGANIZATIONS IN THIS STORY
Riverdale Police Pension Fund• Country Club Hills Police Pension Fund• Willow Springs Police Pension Fund• Lansing Firefighters Pension Fund• Harvey Firefighters Pension Fund• Calumet City Police Pension Fund• Orland Hills Police Pension Fund• Justice Police Pension Fund• Flossmoor Firefighters Pension Fund• Midlothian Firefighters Pension Fund• Bridgeview Firefighters Pension Fund• South Holland Firefighters Pension Fund• Justice Firefighters Pension Fund• Orland Fire Department Firefighters Pension Fund• Sauk Village Police Pension Fund• Posen Firefighters Pension Fund• Harvey Police Pension Fund• Hickory Hills Police Pension Plan• Markham Firefighters Pension Fund• Park Forest Firefighters Pension Fund• Alsip Firefighters Pension Fund• Hazel Crest Firefighters Pension Fund• Hazel Crest Police Pension Fund• Village of Alsip Police Pension Board• Illinois Department of Insurance• Evergreen Park Police Pension Fund• Riverdale Firefighters Pension Fund• South Chicago Heights Police Pension Fund• Calumet Park Police Pension Fund• Blue Island Firefighters Pension Fund• Oak Forest Firefighters Pension Fund• Posen Police Pension Fund• Oak Lawn Police Pension Fund• Burnham Police Pension Fund• Markham Police Pension Fund• Palos Hills Police Pension Fund• South Chicago Heights Firefighters Pension Fund• Oak Forest Police Pension Fund• Lynwood Police Pension Fund• Olympia Fields Police Pension Fund• Chicago Heights Firefighters Pension Fund• Lemont Police Pension Fund• Country Club Hills Firefighters Pension Fund• Oak Lawn Firefighters Pension Fund• Calumet City Firefighters Pension Fund• Midlothian Police Pension Fund• Dolton Police Pension Fund• Worth Police Pension Fund• Glenwood Police Pension Fund• Dolton Firefighters Pension Fund• Chicago Heights Police Pension Fund• Orland Park Police Pension Fund• Matteson Firefighters Pension Fund• Glenwood Firefighters Pension Fund• Sauk Village Firefighters Pension Fund• Park Forest Police Pension Fund• South Holland Police Pension Fund• Palos Heights Police Pension Fund• Robbins Police Pension Fund• Lansing Police Pension Fund• Burbank Firefighters Pension Fund• Palos Park Police Pension Fund• Evergreen Park Firefighters Pension Fund• Burbank Police Pension Fund• Flossmoor Police Pension Fund• Blue Island Police Pension Fund• Tinley Park Police Pension Fund• Bridgeview Police Pension Fund
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