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The DOI biennial report shows the value of the Glencoe Firefighters Pension Fund's liabilities was $436,877 at the end of 2018, while its value of assets was $9,575 – a difference of $427,302.
The fund's actuarial funding position has improved over the past five years. In 2018, 2.2 percent of the fund was funded. Five years ago, 2 percent was funded.
Combining the liabilities of all the funds, just 47.5 percent were funded in 2018, according to the report. Unfunded liabilities statewide totaled $187.8 billion in 2018.
Glencoe Firefighters Pension Fund health over 5 years
| 2014 | 2015 | 2016 | 2017 | 2018 | Change 2014-2018 | |
|---|---|---|---|---|---|---|
| Actuarial value of assets | $14,623 | $7,655 | $2,191 | $9,042 | $9,575 | -34.5% |
| Actuarial value of liabilities | $731,878 | $715,578 | $387,558 | $443,541 | $436,877 | -40.3% |
| Actuarial funding position | -$717,255 | -$707,923 | -$385,367 | -$434,499 | -$427,302 | 40.4% |
| Actuarial funding percent | 2% | 1.1% | 0.6% | 2% | 2.2% | 0.2% |
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