In 2016, Evanston's firefighters' pension fund paid out over $8 million in benefits and made $417K from investments.
In 2016, Evanston's firefighters' pension fund paid out over $8 million in benefits and made $417K from investments.
North Cook County’s 61 police and fire pension funds paid out a total of $195,281,518 in benefits to 3,465 retirees and inactive recipients in 2016 while losing $5,495,345 on their investments, according to a North Cook News analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
North Cook News analyzed financials reported by firefighter and police funds in North Cook County, including Arlington Heights, Des Plaines, Elgin, Evanston, Mt. Prospect and Skokie. Collectively, the 61 funds hold approximately $2.6 billion in assets and paid out $206,933,532 more in 2016 than they earned, including $6,156,669 in fees paid to investment advisers, according to the filings.
$161 million from North Cook County property taxpayers
North Cook County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $161,991,779.
Glenview property taxpayers paid the most to pension funds, at $17.8 million in 2016. The city’s two funds gained $941,531, spending $194,337 on investment adviser fees.
Elgin taxpayers contributed $15.81 million to their city’s two funds, the second highest in North Cook County. Evanston taxpayers paid $15.19 million, followed by Arlington Heights ($9,557,400), Schaumburg ($8,306,484) and Des Plaines ($8,608,916).
Twenty-five North Cook County funds lost money in 2016, when the S&P 500 returned 12 percent.
Schaumburg’s firefighters’ fund lost $2,761,881 on $107.5 million in assets (-2.57 percent) and paid out $6.91 million in benefits.
Arlington Heights’ firefighters’ fund lost $2,418,558 on $91.89 million in assets (-2.63 percent) and paid out $3.94 million in benefits.
Glencoe’s police officers’ fund lost $1,682,628 on $32.11 million in assets (-5.24 percent) and paid out $2.07 million in benefits.
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North Cook County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Arlington Heights Firefighters Pension Fund | $3,946,420 | -$2,418,558 | $147,049 | -$6,512,027 |
| Arlington Heights Police Pension Fund | $3,835,374 | -$861,016 | $155,508 | -$4,851,898 |
| Barrington Firefighters Pension Fund | $474,519 | $226,788 | $44,690 | -$292,422 |
| Barrington Police Pension Fund | $1,722,186 | -$99,905 | $65,835 | -$1,887,927 |
| Bartlett FPD Firefighters Pension Fund | $339,075 | -$255,080 | $26,920 | -$621,076 |
| Bartlett Police Pension Fund | $1,315,394 | $351,666 | $85,084 | -$1,048,813 |
| Buffalo Grove Firefighters Pension Fund | $2,141,667 | $759,945 | $124,530 | -$1,506,253 |
| Buffalo Grove Police Pension Fund | $2,969,656 | $370,366 | $183,038 | -$2,782,328 |
| Des Plaines Firefighters Pension Fund | $6,456,438 | -$777,008 | $273,354 | -$7,506,800 |
| Des Plaines Police Pension Fund | $6,767,978 | -$791,714 | $253,904 | -$7,813,597 |
| Elgin Firefighters Pension Fund | $5,845,018 | $495,373 | $191,736 | -$5,541,381 |
| Elgin Police Pension Fund | $7,629,359 | $769,879 | $241,295 | -$7,100,776 |
| Elk Grove Village Police Pension Fund | $4,425,399 | $67,059 | $111,475 | -$4,469,815 |
| Evanston Firefighters Pension Fund | $8,067,965 | $417,898 | $189,657 | -$7,839,724 |
| Evanston Police Pension Fund | $10,424,955 | $702,639 | $271,933 | -$9,994,250 |
| Glencoe Firefighters Pension Fund | $64,436 | $39 | $218 | -$64,614 |
| Glencoe Police Pension Fund | $2,069,518 | -$1,682,628 | $76,926 | -$3,829,073 |
| Glenview Firefighters Pension Fund | $5,327,947 | $904,533 | $126,970 | -$4,550,384 |
| Glenview Police Pension Fund | $3,665,232 | $36,998 | $67,367 | -$3,695,600 |
| Hanover Park Firefighters Pension Fund | $975,580 | -$265,572 | $29,645 | -$1,270,797 |
| Hanover Park Police Pension Fund | $1,952,464 | -$444,485 | $50,795 | -$2,447,745 |
| Harwood Heights Police Pension Fund | $1,159,819 | -$41,665 | $51,564 | -$1,253,048 |
| Hoffman Estates Firefighters Pension Fund | $3,835,382 | $498,628 | $235,409 | -$3,572,164 |
| Hoffman Estates Police Pension Fund | $4,131,392 | -$1,318,851 | $104,310 | -$5,554,553 |
| Kenilworth Police Pension Fund | $643,012 | $1,171 | $23,377 | -$665,217 |
| Lincolnwood Police Pension Fund | $2,213,009 | $79,946 | $43,747 | -$2,176,810 |
| Morton Grove Firefighters Pension Fund | $2,530,110 | $426,503 | $75,874 | -$2,179,481 |
| Morton Grove Police Pension Fund | $3,335,185 | -$77,974 | $57,278 | -$3,470,437 |
| Mt. Prospect Firefighters Pension Fund | $4,594,876 | $1,886,330 | $84,679 | -$2,793,225 |
| Mt. Prospect Police Pension Fund | $4,529,962 | $650,926 | $109,580 | -$3,988,616 |
| Niles Firefighters Pension Fund | $3,630,830 | $182,550 | $43,322 | -$3,491,602 |
| Niles Police Pension Fund | $4,047,778 | $135,737 | $43,507 | -$3,955,548 |
| Norridge Police Pension Fund | $1,913,751 | -$399,345 | $141,282 | -$2,454,378 |
| North Maine FPD Firefighters Pension Fund | $1,371,886 | $1,135 | $38,796 | -$1,409,547 |
| Northbrook Firefighters Pension Fund | $3,364,422 | $1,835,436 | $64,247 | -$1,593,232 |
| Northbrook Police Pension Fund | $3,737,336 | -$1,648,548 | $40,103 | -$5,425,986 |
| Northfield Police Pension Fund | $1,235,926 | -$118,618 | $42,759 | -$1,397,304 |
| Norwood Park FPD Firefighters Pension Fund | $1,313,198 | $204,887 | $28,076 | -$1,136,387 |
| Palatine Firefighters Pension Fund | $4,215,646 | -$899,004 | $174,242 | -$5,288,892 |
| Palatine Police Pension Fund | $3,866,026 | $16,227 | $227,090 | -$4,076,889 |
| Palatine Rural FPD Firefighters Pension Fund | $247,039 | $101,271 | $25,470 | -$171,237 |
| Park Ridge Firefighters Pension Fund | $2,979,011 | $235,236 | $124,135 | -$2,867,910 |
| Park Ridge Police Pension Fund | $3,086,845 | $372,290 | $140,592 | -$2,855,147 |
| Prospect Heights FPD Firefighters Pension Fund | $0 | $69,848 | $11,695 | $58,154 |
| Prospect Heights Police Pension Fund | $322,396 | -$96,597 | $26,189 | -$445,182 |
| Rolling Meadows Firefighters Pension Fund | $3,156,692 | $295,100 | $73,748 | -$2,935,341 |
| Rolling Meadows Police Pension Fund | $2,927,628 | $247,255 | $95,275 | -$2,775,648 |
| Roselle Firefighters Pension Fund | $178,688 | $65,819 | $16,628 | -$129,497 |
| Roselle Police Pension Fund | $1,607,973 | $335,930 | $90,887 | -$1,362,930 |
| Schaumburg Firefighters Pension Fund | $6,916,306 | -$2,761,881 | $154,883 | -$9,833,071 |
| Schaumburg Police Pension Fund | $7,120,613 | -$1,077,260 | $166,814 | -$8,364,687 |
| Skokie Firefighters Pension Fund | $7,226,005 | -$1,036,118 | $98,249 | -$8,360,372 |
| Skokie Police Pension Fund | $6,721,145 | $455,898 | $178,873 | -$6,444,119 |
| South Barrington Police Pension Fund | $667,694 | -$13,725 | $15,409 | -$696,828 |
| Streamwood Firefighters Pension Fund | $1,578,091 | -$474,246 | $50,327 | -$2,102,664 |
| Streamwood Police Pension Fund | $2,142,823 | -$476,447 | $62,723 | -$2,681,993 |
| Wheeling Firefighters Pension Fund | $2,746,399 | $515,583 | $50,377 | -$2,281,192 |
| Wilmette Firefighters Pension Fund | $3,283,837 | -$785,465 | $83,853 | -$4,153,155 |
| Wilmette Police Pension Fund | $2,654,506 | -$744,287 | $83,135 | -$3,481,928 |
| Winnetka Firefighters Pension Fund | $1,852,469 | $84,664 | $125,558 | -$1,893,364 |
| Winnetka Police Pension Fund | $1,779,229 | $269,100 | $134,677 | -$1,644,806 |
| TOTAL | $195,281,518 | -$5,495,345 | $6,156,669 | -$206,933,532 |
North Cook County Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Arlington Heights Firefighters Pension Fund | $3,946,420 | 99 | 108 | $5,057,400 | $704,523 |
| Arlington Heights Police Pension Fund | $3,835,374 | 89 | 106 | $4,500,000 | $691,981 |
| Barrington Firefighters Pension Fund | $474,519 | 32 | 18 | $287,063 | $188,556 |
| Barrington Police Pension Fund | $1,722,186 | 28 | 22 | $800,000 | $209,607 |
| Bartlett FPD Firefighters Pension Fund | $339,075 | 9 | 43 | $927,940 | $357,194 |
| Bartlett Police Pension Fund | $1,315,394 | 23 | 57 | $1,311,249 | $524,083 |
| Buffalo Grove Firefighters Pension Fund | $2,141,667 | 34 | 55 | $2,202,138 | $524,694 |
| Buffalo Grove Police Pension Fund | $2,969,656 | 50 | 63 | $2,284,316 | $669,027 |
| Des Plaines Firefighters Pension Fund | $6,456,438 | 104 | 91 | $4,304,044 | $836,027 |
| Des Plaines Police Pension Fund | $6,767,978 | 114 | 92 | $4,304,873 | $904,529 |
| Elgin Firefighters Pension Fund | $5,845,018 | 104 | 134 | $6,875,630 | $1,197,974 |
| Elgin Police Pension Fund | $7,629,359 | 132 | 173 | $8,937,888 | $1,950,540 |
| Elk Grove Village Police Pension Fund | $4,425,399 | 70 | 87 | $4,218,512 | $833,491 |
| Evanston Firefighters Pension Fund | $8,067,965 | 145 | 107 | $6,385,244 | $956,092 |
| Evanston Police Pension Fund | $10,424,955 | 186 | 163 | $8,804,264 | $1,454,770 |
| Glencoe Firefighters Pension Fund | $64,436 | 4 | 0 | $60,207 | $0 |
| Glencoe Police Pension Fund | $2,069,518 | 34 | 33 | $1,562,863 | $340,092 |
| Glenview Firefighters Pension Fund | $5,327,947 | 84 | 80 | $10,309,348 | $750,195 |
| Glenview Police Pension Fund | $3,665,232 | 53 | 72 | $7,494,545 | $777,705 |
| Hanover Park Firefighters Pension Fund | $975,580 | 28 | 35 | $1,164,625 | $293,937 |
| Hanover Park Police Pension Fund | $1,952,464 | 40 | 62 | $2,078,956 | $510,565 |
| Harwood Heights Police Pension Fund | $1,159,819 | 19 | 26 | $668,617 | $224,805 |
| Hoffman Estates Firefighters Pension Fund | $3,835,382 | 57 | 93 | $2,597,016 | $863,860 |
| Hoffman Estates Police Pension Fund | $4,131,392 | 76 | 90 | $2,670,802 | $861,841 |
| Kenilworth Police Pension Fund | $643,012 | 12 | 9 | $800,144 | $79,967 |
| Lincolnwood Police Pension Fund | $2,213,009 | 33 | 32 | $1,663,647 | $368,810 |
| Morton Grove Firefighters Pension Fund | $2,530,110 | 50 | 41 | $1,949,493 | $387,408 |
| Morton Grove Police Pension Fund | $3,335,185 | 59 | 45 | $1,819,397 | $412,809 |
| Mt Prospect Firefighters Pension Fund | $4,594,876 | 78 | 67 | $2,532,316 | $606,932 |
| Mt Prospect Police Pension Fund | $4,529,962 | 82 | 82 | $2,918,395 | $795,827 |
| Niles Firefighters Pension Fund | $3,630,830 | 62 | 49 | $2,714,895 | $511,802 |
| Niles Police Pension Fund | $4,047,778 | 60 | 55 | $3,256,499 | $593,810 |
| Norridge Police Pension Fund | $1,913,751 | 29 | 39 | $1,084,796 | $327,651 |
| North Maine FPD Firefighters Pension Fund | $1,371,886 | 30 | 22 | $1,601,136 | $200,066 |
| Northbrook Firefighters Pension Fund | $3,364,422 | 53 | 69 | $1,565,117 | $631,545 |
| Northbrook Police Pension Fund | $3,737,336 | 58 | 65 | $1,591,260 | $752,378 |
| Northfield Police Pension Fund | $1,235,926 | 25 | 19 | $1,523,140 | $205,621 |
| Norwood Park FPD Firefighters Pension Fund | $1,313,198 | 22 | 24 | $998,875 | $210,559 |
| Palatine Firefighters Pension Fund | $4,215,646 | 65 | 91 | $3,620,989 | $857,036 |
| Palatine Police Pension Fund | $3,866,026 | 61 | 108 | $3,371,172 | $1,034,219 |
| Palatine Rural FPD Firefighters Pension Fund | $247,039 | 12 | 21 | $554,905 | $162,429 |
| Park Ridge Firefighters Pension Fund | $2,979,011 | 53 | 48 | $1,846,200 | $439,597 |
| Park Ridge Police Pension Fund | $3,086,845 | 54 | 53 | $2,027,060 | $482,744 |
| Prospect Heights FPD Firefighters Pension Fund | $0 | 2 | 15 | $322,103 | $143,211 |
| Prospect Heights Police Pension Fund | $322,396 | 11 | 22 | $715,486 | $194,884 |
| Rolling Meadows Firefighters Pension Fund | $3,156,692 | 48 | 43 | $2,755,511 | $397,740 |
| Rolling Meadows Police Pension Fund | $2,927,628 | 49 | 48 | $2,547,497 | $469,521 |
| Roselle Firefighters Pension Fund | $178,688 | 5 | 13 | $320,296 | $98,851 |
| Roselle Police Pension Fund | $1,607,973 | 28 | 28 | $1,016,327 | $268,741 |
| Schaumburg Firefighters Pension Fund | $6,916,306 | 121 | 122 | $3,764,945 | $1,072,444 |
| Schaumburg Police Pension Fund | $7,120,613 | 106 | 111 | $4,541,539 | $1,295,799 |
| Skokie Firefighters Pension Fund | $7,226,005 | 148 | 114 | $3,595,244 | $931,116 |
| Skokie Police Pension Fund | $6,721,145 | 121 | 110 | $2,208,070 | $1,059,517 |
| South Barrington Police Pension Fund | $667,694 | 11 | 16 | $937,886 | $131,323 |
| Streamwood Firefighters Pension Fund | $1,578,091 | 35 | 48 | $1,332,260 | $400,465 |
| Streamwood Police Pension Fund | $2,142,823 | 49 | 57 | $1,814,239 | $528,478 |
| Wheeling Firefighters Pension Fund | $2,746,399 | 54 | 50 | $2,258,857 | $578,831 |
| Wilmette Firefighters Pension Fund | $3,283,837 | 55 | 45 | $2,296,000 | $427,887 |
| Wilmette Police Pension Fund | $2,654,506 | 43 | 46 | $1,763,100 | $439,929 |
| Winnetka Firefighters Pension Fund | $1,852,469 | 32 | 25 | $1,396,267 | $232,443 |
| Winnetka Police Pension Fund | $1,779,229 | 35 | 26 | $1,159,177 | $252,560 |
| TOTAL | $195,281,518 | 3,465 | 3,688 | $161,991,779 | $34,611,038 |
*Retirees/Inactive Recipients, Active Members as of 2014.
Note: Elk Grove Village FPD Firefighters Fund's recipient numbers were not provided.
ORGANIZATIONS IN THIS STORY
Des Plaines Police Pension Fund• Buffalo Grove Police Pension Fund• Glencoe Firefighters Pension Fund• Hanover Park Firefighters Pension Fund• Elk Grove Village Police Pension Fund• Barrington Firefighters Pension Fund• Buffalo Grove Firefighters Pension Fund• Glencoe Police Pension Fund• Evanston Police Pension Fund• Des Plaines Firefighters Pension Fund• Illinois Department of Insurance• Elgin Police Pension Fund• Barrington Police Pension Board• Arlington Heights Police Fund• Bartlett Fire Department Firefighters Pension Fund• Schaumburg Firefighters Pension Fund• Glenview Police Pension Fund• Schaumburg Police Pension Fund• Hanover Park Police Pension Fund• Elgin Firefighters Pension Fund• Glenview Firefighters Pension Fund• Harwood Heights Police Pension Fund• Bartlett Police Pension Fund• Arlington Heights Firefighters Pension Fund• Evanston Firefighters Pension Fund
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