Analysis: North Chicago Police Pension Fund would go broke in five years without taxpayer subsidy
The fund has $14,745,384 in total assets. If the funds annual losses were the same, it would run out of money in five years without these subsidies.
The fund lost $951,251 in investment income and other revenue in 2016. At the same time, it paid out $2,386,770 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $1,119,364 to the funds revenue last year – an amount that has increased from $701,412 five years ago. Members contributed an additional $474,366 – $82,697 more than five years ago.
In all, subsidies amounted to $1,593,730 in 2016.