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Lake County Gazette

Friday, November 22, 2024

Report: 0% of Lake Villa Fpd Firefighter's Pension Fund is funded

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With the funds it has on hand outpacing the amount it's obligated to pay pensioners, 0 percent of the Lake Villa Fpd Firefighter's Pension Fund fund is funded, according to the latest data reported to the Illinois Department of Insurance Pension Division.

The DOI biennial report shows the value of the Lake Villa Fpd Firefighter's Pension Fund's value of assets was $344,639 at the end of 2016, while its liabilities was $0 a difference of $344,639.

The fund's actuarial funding position has improved over the past five years. In 2016, 0 percent of the fund was funded. Five years ago, 0 percent was funded.

Combining the liabilities of all the funds, just 47.9 percent were funded in 2016, according to the report. Unfunded liabilities statewide totaled $185.2 billion in 2016.

Lake Villa Fpd Firefighter's Pension Fund health over 5 years
20122013201420152016Change 2012-2016
Actuarial value of assets$299,050$241,882$331,872$343,205$344,63915.2%
Actuarial value of liabilities$0$0$0$0$0-%
Actuarial funding position$299,050$241,882$331,872$343,205$344,63915.2%
Actuarial funding percent0%0%0%0%0%0%

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