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Lake County Gazette

Friday, November 22, 2024

Analysis: These 4 Lake County pension funds sustain themselves without subsidies

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Pension funds in Lake Zurich, Lincolnshire and Long Grove 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 Lake County pension funds are self-sustaining?

FundCityTotal Non-Subsidy Revenue

Total Expenses

Total Annual Loss without SubsidyYears Until Assets Spent
Lake Zurich Firefighters Pension FundLake Zurich$750,015$613,610$136,405213.01

Lincolnshire Police Pension FundLincolnshire$1,306,879$1,008,523$298,35668.29

Hawthorn Woods Police Pension FundLake Zurich

$146,634$92,036$54,59858.67

Long Grove Firefighters Pension FundLong Grove$385,007$183,778$201,22945.22

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