Analysis: These 20 North Suburbs pension funds would go bankrupt fastest without subsidies
Pension funds in Buffalo Grove, Palatine and Winnetka 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 North Suburbs pension funds are self-sustaining?
|Fund||City||Total Non-Subsidy Revenue||Total Expenses||Total Annual Loss without Subsidy||Years Until Assets Spent|
|Buffalo Grove Police Pension Fund||Buffalo Grove||$3,418,114||$3,327,511||$90,603||658.53|
|Palatine Police Pension Fund||Palatine||$4,490,209||$4,235,751||$254,458||264.80|
|Winnetka Firefighters Pension Fund||Winnetka||$1,933,212||$1,816,887||$116,325||222.93|
|Arlington Heights Firefighters Pension Fund||Arlington Heights||$6,914,634||$6,284,079||$630,555||155.13|
|Winnetka Police Pension Fund||Winnetka||$2,153,834||$1,888,549||$265,285||106.13|
|Hanover Park Firefighters Pension Fund||Hanover Park||$1,308,890||$1,112,264||$196,626||87.54|
|Streamwood Police Pension Fund||Streamwood||$3,044,001||$2,461,572||$582,429||76.06|
|Hoffman Estates Police Pension Fund||Schaumburg||$6,063,203||$4,860,611||$1,202,592||59.28|
|Barrington Firefighters Pension Fund||Barrington||$888,626||$585,778||$302,848||51.99|
|Buffalo Grove Firefighters Pension Fund||Buffalo Grove||$3,415,512||$2,267,694||$1,147,818||47.23|
|Palatine Rural FPD Firefighters Pension Fund||Inverness||$750,321||$385,919||$364,402||31.75|
|Bartlett FPD Firefighters Pension Fund||Bartlett||$1,250,136||$401,471||$848,665||19.01|
Organizations in this Story
Arlington Heights Firefighters Pension Fund • Barrington Firefighters Pension Fund • Bartlett Fire Protection District Firefighters Pension Fund • Buffalo Grove Firefighters Pension Fund • Buffalo Grove Police Pension Fund • Hanover Park Firefighters Pension Fund • Harwood Heights Police Pension Fund • Hoffman Estates Police Pension Fund • Niles Firefighters Pension Fund • Niles Police Pension Fund • Norridge Police Pension Fund • Norwood Park Fire Protection District Firefighters Pension Fund • Palatine Police Pension Fund • Palatine Rural Fire Protection District • Schaumburg Firefighters Pension Fund • Skokie Firefighters Pension Fund • Skokie Police Pension Fund • Streamwood Police Pension Fund • Winnetka Firefighters Pension Fund • Winnetka Police Pension Fund