Pension funds in Elgin, Aurora and Batavia would go bankrupt first 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 will go bankrupt first?
Rank
Fund
City
Total Non-Subsidy Revenue
Total Expenses
Total Annual Loss without Subsidy
Years Until Assets Spent
1
Elgin Police Pension Fund
Elgin
$7,710,835
$7,856,036
-$145,201
0
2
North Aurora FPD Firefighters Pension Fund
Aurora
$94,676
$118,333
-$23,657
0
3
Batavia Police Pension Fund
Batavia
$1,553,513
$1,996,804
-$443,291
0
4
South Elgin/Countryside FPD Firefighters Pension F
South Elgin
$92,527
$320,914
-$228,387
0
5
Elgin Firefighters Pension Fund
Elgin
$4,652,427
$6,208,105
-$1,555,678
0
6
Carpentersville Police Pension Fund
Carpentersville
$1,768,215
$2,725,489
-$957,274
0
7
South Elgin Police Pension Fund
South Elgin
-$19,768
$620,621
-$640,389
0
8
Montgomery Police Pension Fund
Montgomery
-$25,627
$499,390
-$525,017
0
9
Geneva Firefighters Pension Fund
Geneva
-$348,987
$485,247
-$834,234
0
10
West Dundee Firefighters Pension Fund
West Dundee
-$53,349
$352,661
-$406,010
0
11
St Charles Firefighters Pension Fund
St. Charles
-$997,840
$1,333,191
-$2,331,031
0
12
East Dundee Police Pension Fund
East Dundee
$89,243
$673,977
-$584,734
0
13
Sugar Grove Police Pension Fund
Sugar Grove
$34,982
$279,497
-$244,515
0
14
Geneva Police Pension Fund
Geneva
-$380,287
$1,242,947
-$1,623,234
0
15
St Charles Police Pension Fund
St. Charles
-$906,366
$2,287,799
-$3,194,165
0
ORGANIZATIONS IN THIS STORY
Geneva Police Pension Fund• West Dundee Firefighters Pension Fund• North Aurora Fire Department Firefighters Pension Fund• South Elgin/Countryside Fire Protection District Firefighters Pension Fund• Carpentersville Police Pension Fund• Batavia Firefighters Pension Fund• Geneva Firefighters Pension Fund• Elgin Firefighters Pension Fund• Sugar Grove Fire Protection District• Batavia Police Pension Fund• St. Charles Police Pension Fund• Elgin Police Pension Fund• Sugar Grove Police Pension Fund• South Elgin Police Pension Fund• Carpentersville Firefighters Pension Fund• St. Charles Firefighters Pension Fund• East Dundee Police Pension Fund• Montgomery Police Pension Fund
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