Analysis: These 3 Kane County pension funds sustain themselves without subsidies
Pension funds in Sugar Grove, Carpentersville and Batavia 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 Kane County pension funds are self-sustaining?
|Fund||City||Total Non-Subsidy Revenue||Total Expenses||Total Annual Loss without Subsidy||Years Until Assets Spent|
|Sugar Grove FPD Firefighters Pension Fund||Sugar Grove||$54,062||$44,411||$9,651||312.79|
|Carpentersville Firefighters Pension Fund||Carpentersville||$1,126,736||$1,031,770||$94,966||213.12|
|Batavia Firefighters Pension Fund||Batavia||$836,542||$739,509||$97,033||158.61|
Organizations in this Story
Batavia Firefighters Pension Fund • Batavia Police Pension Fund • Carpentersville Firefighters Pension Fund • Carpentersville Police Pension Fund • East Dundee Police Pension Fund • Elgin Firefighters Pension Fund • Elgin Police Pension Fund • Geneva Firefighters Pension Fund • Geneva Police Pension Fund • Montgomery Police Pension Fund • North Aurora Fire Department Firefighters Pension Fund • South Elgin Police Pension Fund • South Elgin/Countryside Fire Protection District Firefighters Pension Fund • St Charles Firefighters Pension Fund • St Charles Police Pension Fund • Sugar Grove Fire Protection District Firefighter's Pension Fund • Sugar Grove Police Pension Fund • West Dundee Firefighters Pension Fund