Elgin's historic Fire Barn 5 | I, G LeTourneau, CC-BY-SA-3.0
Elgin's historic Fire Barn 5 | I, G LeTourneau, CC-BY-SA-3.0
Thirty-four of the 35 Kane County police and fire pension funds paid out a total of $53,761,339 in benefits to 966 retirees and inactive recipients last year while gaining $2,148,587 on their investments, according to a Kane County Reporter analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Reporter analyzed financials reported by firefighter and police funds across the region, including Algonquin, Aurora, Elgin, Geneva, and St. Charles. Collectively, the 34 funds hold approximately $816 million in assets and paid out $54,203,264 more in 2016 than they earned, including $2,590,513 in fees paid to investment advisers, according to the filings.
$57 million from Kane County property taxpayers
Kane County property taxpayers made up more than the difference, subsidizing the funds last year to the tune of $57,705,924.
Aurora property taxpayers paid the most to pension funds, at $21.57 million in 2016. The cities’ two funds gained $2.87 million, spending $916,076 on investment adviser fees.
Elgin taxpayers contributed $15.81 million to their city’s police and fire pension funds, followed by Carpentersville ($3,095,771), Sugar Grove ($2,841,272), and St. Charles ($2,702,707).
Eleven Kane County funds lost money in 2016, when the S&P 500 returned 12 percent.
St. Charles’ police officers’ and firefighters’ funds lost a combined $1.59 million on $64.23 million in assets (-2.48 percent) and paid out $3.58 million in benefits.
Batavia’s police officers’ fund lost $757,236 on $26.42 million in assets (-2.87 percent) and paid out $1.69 million in benefits.
Geneva’s police officers’ and firefighters’ fund lost a combined -$622,540 on $31.38 million in assets (-1.98 percent) and paid out $1.67 million.
Carpentersville’s firefighters’ fund lost $136,071 on $18.31 million in assets (-0.74 percent) and paid out $607,615 in benefits.
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Kane County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Algonquin Lake In The Hills FPD Pension Fund | $792,325 | $238,025 | $57,361 | -$611,661 |
| Algonquin Police Pension Fund | $903,832 | $6,951 | $81,708 | -$978,589 |
| Aurora Firefighters Pension Fund | $11,093,294 | $1,197,817 | $412,274 | -$10,307,751 |
| Aurora Police Pension Fund | $12,845,770 | $1,677,049 | $503,802 | -$11,672,523 |
| Batavia Firefighters Pension Fund | $609,849 | $135,091 | $34,673 | -$509,431 |
| Batavia Police Pension Fund | $1,695,836 | -$757,236 | $152,410 | -$2,605,481 |
| Burlington Community FPD Firefighters Pension Fund | $0 | $2,965 | $891 | $2,074 |
| Carpentersville Firefighters Pension Fund | $607,615 | -$136,071 | $36,908 | -$780,594 |
| Carpentersville Police Pension Fund | $1,460,181 | -$74,333 | $97,503 | -$1,632,018 |
| East Dundee Countryside FPD Firefighters Pension Fund | $173,321 | $25,585 | $8,369 | -$156,106 |
| East Dundee Police Pension Fund | $652,320 | $118,779 | $31,123 | -$564,664 |
| Elburn Countryside FPD Firefighters Pension Fund | $88,924 | -$98,859 | $17,855 | -$205,638 |
| Elburn Police Pension Fund | $85,992 | $23,031 | $2,260 | -$65,221 |
| Elgin Firefighters Pension Fund | $5,845,018 | $495,373 | $191,736 | -$5,541,381 |
| Elgin Police Pension Fund | $7,629,359 | $769,879 | $241,295 | -$7,100,776 |
| Geneva Firefighters Pension Fund | $465,657 | -$323,790 | $28,003 | -$817,449 |
| Geneva Police Pension Fund | $1,212,510 | -$298,750 | $85,818 | -$1,597,078 |
| Gilberts Police Pension Fund | $0 | $22,482 | $8,954 | $13,528 |
| Hampshire FPD Firefighters Pension Fund | $0 | $29,383 | $7,115 | $22,268 |
| Hampshire Police Pension Fund | $0 | $299 | $0 | $299 |
| Montgomery & Countryside FPD Firefighters Pension | $0 | $3,714 | $0 | $3,714 |
| Montgomery Police Pension Fund | $481,164 | -$7,515 | $18,113 | -$506,792 |
| North Aurora FPD Firefighters Pension Fund | $21,527 | $168,555 | $7,671 | $139,357 |
| North Aurora Police Pension Fund | $642,831 | $14,312 | $22,235 | -$650,754 |
| Oswego FPD Firefighters Pension Fund | $129,151 | $170,165 | $47,289 | -$6,276 |
| Oswego Police Pension Fund | $517,978 | $222,198 | $59,895 | -$355,675 |
| Pingree Grove & Countryside FPD Firefighters Pension Fund | $42,732 | $22,328 | $7,090 | -$27,494 |
| South Elgin Countryside FPD Firefighters Pension Fund | $288,921 | $129,053 | $41,328 | -$201,196 |
| South Elgin Police Pension Fund | $597,131 | $28,679 | $46,075 | -$614,527 |
| St. Charles Firefighters Pension Fund | $1,315,059 | -$822,021 | $175,820 | -$2,312,899 |
| St. Charles Police Pension Fund | $2,263,911 | -$773,368 | $133,047 | -$3,170,326 |
| Sugar Grove Police Pension Fund | $233,961 | $45,440 | $11,447 | -$422,483 |
| West Dundee Firefighters Pension Fund | $343,111 | -$47,261 | $6,087 | -$396,459 |
| West Dundee Police Pension Fund | $722,059 | -$59,360 | $14,358 | -$795,777 |
| COUNTY TOTAL | $53,761,339 | $2,148,587 | $2,590,513 | -$54,203,264 |
Kane County Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contribution |
| Algonquin Lake In The Hills FPD Pension Fund | $792,325 | 16 | 46 | $1,138,707 | $363,559 |
| Algonquin Police Pension Fund | $903,832 | 10 | 46 | $1,240,000 | $450,578 |
| Aurora Firefighters Pension Fund | $11,093,294 | 169 | 191 | $9,996,199 | $1,999,670 |
| Aurora Police Pension Fund | $12,845,770 | 198 | 289 | $11,571,764 | $3,805,258 |
| Batavia Firefighters Pension Fund | $609,849 | 15 | 22 | $760,874 | $193,606 |
| Batavia Police Pension Fund | $1,695,836 | 32 | 39 | $1,450,502 | $374,120 |
| Burlington Community FPD Firefighters Pension Fund | $0 | 0 | 2 | $31,738 | $10,891 |
| Carpentersville Firefighters Pension Fund | $607,615 | 22 | 36 | $1,010,757 | $212,253 |
| Carpentersville Police Pension Fund | $1,460,181 | 43 | 59 | $2,085,015 | $374,280 |
| East Dundee Police Pension Fund | $652,320 | 9 | 13 | $448,635 | $106,193 |
| East Dundee Countryside FPD Firefighters Pension Fund | $173,321 | 3 | 7 | $218,764 | $36,541 |
| Elburn Police Pension Fund | $85,992 | 2 | 5 | $151,016 | $38,517 |
| Elburn Countryside FPD Firefighters Pension Fund | $88,924 | 7 | 25 | $628,014 | $219,528 |
| Elgin Firefighters Pension Fund | $5,845,018 | 104 | 134 | $6,875,630 | $1,197,974 |
| Elgin Police Pension Fund | $7,629,359 | 132 | 173 | $8,937,888 | $1,950,540 |
| Geneva Firefighters Pension Fund | $465,657 | 9 | 20 | $355,690 | $188,272 |
| Geneva Police Pension Fund | $1,212,510 | 22 | 36 | $1,144,355 | $365,178 |
| Gilberts Police Pension Fund | $0 | 2 | 7 | $117,040 | $52,985 |
| Hampshire FPD Firefighters Pension Fund | $0 | 1 | 8 | $190,088 | $43,743 |
| Hampshire Police Pension Fund | $0 | 0 | 11 | $187,000 | $82,415 |
| Montgomery & Countryside FPD Firefighter's Pension | $0 | 0 | 1 | $42,975 | $9,196 |
| Montgomery Police Pension Fund | $481,164 | 10 | 24 | $452,282 | $216,533 |
| North Aurora FPD Firefighters Pension Fund | $21,527 | 6 | 27 | $278,200 | $134,367 |
| North Aurora Police Pension Fund | $642,831 | 13 | 28 | $747,000 | $242,060 |
| Oswego FPD Firefighters Pension Fund | $129,151 | 2 | 60 | $1,087,786 | $477,355 |
| Oswego Police Pension Fund | $517,978 | 17 | 47 | $1,250,000 | $425,332 |
| Pingree Grove & Countryside FPD Firefighter's Pens | $42,732 | 5 | 5 | $70,621 | $37,253 |
| South Elgin Countryside FPD Firefighters Pension Fund | $288,921 | 8 | 31 | $620,416 | $241,274 |
| South Elgin Police Pension Fund | $597,131 | 17 | 32 | $814,000 | $275,179 |
| St. Charles Firefighters Pension Fund | $1,315,059 | 22 | 45 | $1,162,413 | $473,869 |
| St. Charles Police Pension Fund | $2,263,911 | 43 | 50 | $1,540,294 | $506,838 |
| Sugar Grove Police Pension Fund | $233,961 | 4 | 13 | $269,002 | $92,439 |
| West Dundee Firefighters Pension Fund | $343,111 | 9 | 10 | $313,207 | $62,959 |
| West Dundee Police Pension Fund | $722,059 | 14 | 18 | $518,055 | $144,589 |
| COUNTY TOTAL | $53,761,339 | 966 | 1,560 | $57,705,924 | $15,405,344 |
*Retirees/Inactive Recipients, Active Members as of 2014.
Note: Sugar Grove Firefighters' recipient numbers were not provided.
Editor's Note: A previous version of this article reported that Sugar Grove Police's fund received $1,162,413 in taxpayer subsidies and paid $233,961 in investment expenses. This article has been updated to reflect the correct numbers.
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