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Sunday, February 23, 2020

Report: 101.7% of Orland Fpd Firefighters Pension Fund is funded

Local Government

By Local Labs News Service | May 1, 2018

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With the funds it has on hand outpacing the amount it's obligated to pay pensioners, 101.7 percent of the Orland Fpd Firefighters Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.

The DOI biennial report shows the value of the Orland Fpd Firefighters Pension Fund's value of assets was $144,031,354 at the end of 2016, while its liabilities was $141,681,922 a difference of $2,349,432.

The fund's actuarial funding position has gotten worse over the past five years. In 2016, 101.7 percent of the fund was funded. Five years ago, 104.4 percent was funded.

Combining the liabilities of all the funds, just 47.9 percent were funded in 2016, according to the report. Unfunded liabilities statewide totaled $185.2 billion in 2016.

Orland Fpd Firefighters Pension Fund health over 5 years
2012
2013
2014
2015
2016
Change 2012-2016
Actuarial value of assets
$104,657,369
$114,641,239
$125,858,656
$134,705,281
$144,031,354
37.6%
Actuarial value of liabilities
$100,259,786
$115,312,773
$128,801,312
$134,285,789
$141,681,922
41.3%
Actuarial funding position
$4,397,583
-$671,534
-$2,942,656
$419,492
$2,349,432
-46.6%
Actuarial funding percent
104.4%
99.4%
97.7%
100.3%
101.7%
-2.7%

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Organizations in this Story

Orland Fire Department Firefighters Pension Fund

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