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West Cook News

Saturday, November 2, 2024

Analysis: This West Suburban pension fund sustains itself without subsidies

Budget 05

A pension fund in Northlake 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 West Suburbs pension funds are self-sustaining?

FundCityTotal Non-Subsidy RevenueTotal ExpensesTotal Annual Loss without SubsidyYears Until Assets Spent
Northlake FPD Firefighters Pension FundNorthlake$937,733$832,640$105,093126.50

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