Analysis: These 4 Lake County pension funds sustain themselves without subsidies
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?
|Fund||City||Total Non-Subsidy Revenue||Total Expenses||Total Annual Loss without Subsidy||Years Until Assets Spent|
|Lake Zurich Firefighters Pension Fund||Lake Zurich||$750,015||$613,610||$136,405||213.01|
|Lincolnshire Police Pension Fund||Lincolnshire||$1,306,879||$1,008,523||$298,356||68.29|
|Hawthorn Woods Police Pension Fund||Lake Zurich||$146,634||$92,036||$54,598||58.67|
|Long Grove Firefighters Pension Fund||Long Grove||$385,007||$183,778||$201,229||45.22|
Organizations in this Story
Countryside Fire Department Firefighters Pension Fund • Fox Lake Police Pension Fund • Grayslake Fire Protection District • Hawthorn Woods Police Pension Fund • Highland Park Firefighters Pension Fund • Highwood Police Pension Fund • Kildeer Police Pension Fund • Lake Forest Police Pension Fund • Lake Villa Police Pension Fund • Lake Zurich Firefighters Pension Fund • Libertyville Police Pension Fund • Lincolnshire Police Pension Fund • Long Grove Firefighters Pension Fund • North Chicago Firefighters Pension Fund • North Chicago Police Pension Fund • Park City Police Pension Fund • Round Lake Park Police Pension Fund • Waukegan Firefighters Pension Fund • Waukegan Police Pension Fund • Zion Firefighters Pension Fund