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 will go bankrupt first?
Rank
Fund
City
Total Non-Subsidy Revenue
Total Expenses
Total Annual Loss without Subsidy
Years Until Assets Spent
1
Palos Heights FPD Pension Fund
Palos Heights
$474,952
$503,510
-$28,558
0
2
Burbank Police Pension Fund
Burbank
$2,129,446
$2,258,862
-$129,416
0
3
Burbank Firefighters Pension Fund
Burbank
$1,442,550
$1,581,560
-$139,010
0
4
Pleasantview FPD
La Grange
$586,971
$1,272,403
-$685,432
0
5
Markham Firefighters Pension Fund
Markham
-$14,799
$132,644
-$147,443
0
6
Oak Lawn Firefighters Pension Fund
Oak Lawn
$4,308,725
$6,265,743
-$1,957,018
0
7
Palos Park Police Pension Fund
Palos Park
$49,037
$120,146
-$71,109
0
8
Palos FPD Pension Fund
Palos Heights
$27,518
$496,467
-$468,949
0
9
Oak Lawn Police Pension Fund
Oak Lawn
$4,358,758
$6,767,385
-$2,408,627
0
10
Chicago Ridge Police Pension Fund
Chicago Ridge
$900,013
$1,620,840
-$720,827
0
11
Bridgeview Police Pension Fund
Bridgeview
$998,259
$1,953,106
-$954,847
0
12
Evergreen Park Police Pension Fund
Evergreen Park
$684,758
$2,795,226
-$2,110,468
0
13
Oak Forest Firefighters Pension Fund
Oak Forest
$136,856
$1,079,521
-$942,665
0
14
Steger Police Pension Fund
Steger
$152,864
$419,400
-$266,536
0
15
Midlothian Police Pension Fund
Midlothian
$211,026
$900,841
-$689,815
0
16
Tinley Park Police Pension Fund
Tinley Park
-$161,549
$2,885,293
-$3,046,842
0
17
Homewood Firefighters Pension Fund
Homewood
$60,065
$683,513
-$623,448
0
18
Hazel Crest Firefighters Pension Fund
Hazel Crest
$73,875
$455,483
-$381,608
0
19
South Holland Firefighters' Pension Fund
South Holland
-$168,346
$595,780
-$764,126
0
20
Lemont Police Pension Fund
Lemont
-$192,300
$719,047
-$911,347
0
ORGANIZATIONS IN THIS STORY
Palos Heights Fire Department Pension Fund• Homewood Firefighters Pension Fund• Markham Firefighters Pension Fund• Hazel Crest Firefighters Pension Fund• Evergreen Park Police Pension Fund• Palos Fire Department Pension Fund• Oak Forest Firefighters Pension Fund• Oak Lawn Police Pension Fund• Chicago Ridge Police Pension Fund• Lemont Police Pension Fund• Oak Lawn Firefighters Pension Fund• Midlothian Police Pension Fund• Steger Police Pension Fund• South Holland Firefighters' Pension Fund• Burbank Firefighters Pension Fund• Palos Park Police Pension Fund• Burbank Police Pension Fund• Tinley Park Police Pension Fund• Pleasantview Fire Protection District• Bridgeview Police Pension Fund
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