Analysis: These 4 South Suburban pension funds sustain themselves without subsidies
Pension funds in Chicago Ridge, Lemont and Orland Park could sustain themselves longest 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 South Suburbs pension funds are self-sustaining?
|Fund||City||Total Non-Subsidy Revenue||Total Expenses||Total Annual Loss without Subsidy||Years Until Assets Spent|
|Chicago Ridge Firefighters Pension Fund||Chicago Ridge||$832,350||$773,775||$58,575||191.25|
|Lemont FPD Firefighters Pension Fund||Lemont||$1,431,989||$673,606||$758,383||33.91|
|Orland Park Police Pension Fund||Orland Park||$5,984,776||$3,401,851||$2,582,925||30.49|
|Orland FPD Firefighters Pension Fund||Orland Park||$10,399,975||$4,097,492||$6,302,483||22.50|
Organizations in this Story
Alsip Police Pension Fund • Burnham Police Pension Fund • Calumet City Firefighters Pension Fund • Chicago Heights Firefighters Pension Fund • Chicago Ridge Firefighters Pension Fund • Country Club Hills Police Pension Fund • Evergreen Park Firefighters Pension Fund • Harvey Firefighters Pension Fund • Harvey Police Pension Fund • Lemont Fire Protection District Firefighters Pension Fund • Lynwood Police Pension Fund • Midlothian Firefighters Pension Fund • Orland Fire Department Firefighters Pension Fund • Orland Park Police Pension Fund • Riverdale Police Pension Fund • Roberts Park Fire Protection District • Summit Police Pension Fund • Willow Springs Police Pension Fund • Worth Firefighters Pension Fund • Worth Police Pension Fund