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Southern Illinois News

Tuesday, November 5, 2024

Analysis: Anna Police Pension Fund would go broke in 15 years without taxpayer subsidy

Money 01

Without members and taxpayers subsidizing its revenue, Anna Police Pension Fund lost $154,540 in 2016, according to a Southern Illinois News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $2,247,509 in total assets. If the funds annual losses were the same, it would run out of money in 15 years without these subsidies.

The fund earned $33,744 in investment income and other revenue in 2016. At the same time, it paid out $188,284 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 $206,009 to the funds revenue last year – an amount that has increased from $130,234 five years ago. Members contributed an additional $34,835 – $2,464 more than five years ago.

In all, subsidies amounted to $240,844 in 2016.

Anna Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016$33,744$188,284-$154,540
2015$75,737$211,519-$135,782
2014$41,577$182,630-$141,053
2013$52,915$158,541-$105,626
2012$59,310$154,311-$95,001

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