East Central Illinois' 34 police and fire pension funds paid out a total of $21,884,811 in benefits to 576 retirees and inactive recipients in 2016 while losing $1,712,059 on their investments, according to an East Central 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 Charleston, Danville, Effingham, Fairfield, Mattoon and Olney. Collectively, the 34 funds hold approximately $200 million in assets and paid out $24,012,138 more in 2016 than they earned, including $415,267 in fees to investment advisers, according to the filings.
$15 million from East Central property taxpayers
East Central Illinois property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $15,688,581.
Danville property taxpayers paid the most to pension funds, at $4.42 million in 2016. The cities’ two funds lost $298,345, spending $112,061 on investment adviser fees.
Mattoon contributed $2.77 million to their police and pension funds, followed by Charleston ($1,583,427), Effingham ($1,168,510), Fairfield ($741,989) and Pontiac ($607,818).
Eleven East Central funds lost money in 2016, when the S&P 500 returned 12 percent.
Mattoon’s police officers’ and firefighters’ funds lost $1.42 million on $33.19 million in assets (-4.29 percent) and paid out $4.21 million in benefits.
Charleston’s police officers’ and firefighters’ funds lost $464,032 on $26.1 million in assets (-1.78 percent) and paid out $2.87 million in benefits.
Danville’s police officers’ and firefighters’ funds lost $298,345 on $32.17 million in assets (-0.93 percent) and paid out $6.49 million in benefits.
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East Central Illinois Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Atwood FPD Firefighters Pension Fund | $13,911 | $5 | $5 | -$13,911 |
| Bement FPD Firefighters Pension Fund | $55,797 | $497 | $0 | -$55,300 |
| Charleston Firefighters Pension Fund | $1,533,438 | -$256,862 | $70,753 | -$1,861,053 |
| Charleston Police Pension Fund | $1,335,801 | -$207,170 | $62,957 | -$1,605,929 |
| Clinton Firefighters Pension Fund | $143,627 | $62,654 | $95 | -$81,068 |
| Danville Firefighters Pension Fund | $3,467,010 | -$92,312 | $40,987 | -$3,600,309 |
| Danville Police Pension Fund | $3,026,517 | -$206,033 | $71,074 | -$3,303,624 |
| Effingham Firefighters Pension Fund | $715,839 | -$43,871 | $9,495 | -$769,205 |
| Effingham Police Pension Fund | $888,995 | $12,452 | $0 | -$876,543 |
| Eureka Police Pension Fund | $0 | $2,041 | $10 | $2,031 |
| Fairfield Firefighters Pension Fund | $125,347 | $7,558 | $0 | -$117,788 |
| Fairfield Police Pension Fund | $314,781 | $103,558 | $0 | -$211,223 |
| Flora Police Pension Fund | $312,935 | $8,998 | $0 | -$303,937 |
| Hoopeston Police Pension Fund | $206,663 | $52,173 | $32 | -$154,522 |
| Lawrenceville Police Pension Fund | $254,552 | -$11,059 | $0 | -$265,611 |
| Mattoon Firefighters Pension Fund | $2,225,941 | -$735,261 | $14,636 | -$2,975,837 |
| Mattoon Police Pension Fund | $1,984,166 | -$687,049 | $9,433 | -$2,680,648 |
| Monticello Police Pension Fund | $149,515 | $4,377 | $0 | -$145,138 |
| Mt. Carmel Firefighters Pension Fund | $96,542 | $22,256 | $1,548 | -$75,834 |
| Mt. Carmel Police Pension Fund | $403,767 | $37,803 | $30 | -$365,994 |
| Olney Firefighters Pension Fund | $177,457 | $32,814 | $6,851 | -$151,494 |
| Olney Police Pension Fund | $554,177 | $26,451 | $0 | -$527,727 |
| Paris Firefighters Pension Fund | $553,298 | -$60,014 | $12,457 | -$625,770 |
| Paris Police Pension Fund | $276,418 | $79,574 | $6,211 | -$203,056 |
| Pontiac Firefighters Pension Fund | $342,460 | $41,842 | $17,986 | -$318,604 |
| Pontiac Police Pension Fund | $489,069 | $73,302 | $35,807 | -$451,574 |
| Roberts Park FPD Firefighters Pension Fund | $837,541 | -$170,975 | $40,759 | -$1,049,276 |
| Robinson Firefighters Pension Fund | $191,641 | $132,311 | $0 | -$59,330 |
| Robinson FPD Firefighters Pension Fund | $272,779 | -$2,191 | $0 | -$274,970 |
| Robinson Police Pension Fund | $147,437 | $8,242 | $0 | -$139,195 |
| Shelbyville FPD Firefighters Pension Fund | $84,607 | $8,154 | $12 | -$76,464 |
| Shelbyville Police Pension Fund | $131,487 | $16,385 | $0 | -$115,102 |
| Sullivan FPD Firefighters Pension Fund | $196,395 | $509 | $14,127 | -$210,013 |
| Watseka Police Pension Fund | $374,901 | $26,780 | $0 | -$348,121 |
| COUNTY TOTAL | $21,884,811 | -$1,712,059 | $415,267 | -$24,012,138 |
East Central Illinois Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Atwood FPD Firefighters Pension Fund | $13,911 | 2 | 0 | $16,405 | $0 |
| Bement FPD Firefighters Pension Fund | $55,797 | 1 | 0 | $80,566 | $0 |
| Charleston Firefighters Pension Fund | $1,533,438 | 44 | 32 | $853,070 | $180,258 |
| Charleston Police Pension Fund | $1,335,801 | 27 | 32 | $730,357 | $229,505 |
| Clinton Firefighters Pension Fund | $143,627 | 4 | 3 | $96,859 | $15,655 |
| Danville Firefighters Pension Fund | $3,467,010 | 84 | 45 | $2,492,985 | $280,346 |
| Danville Police Pension Fund | $3,026,517 | 73 | 62 | $1,930,255 | $422,758 |
| Effingham Firefighters Pension Fund | $715,839 | 16 | 16 | $550,492 | $107,469 |
| Effingham Police Pension Fund | $888,995 | 20 | 22 | $618,018 | $146,396 |
| Eureka Police Pension Fund | $0 | 1 | 6 | $63,274 | $26,217 |
| Fairfield Firefighters Pension Fund | $125,347 | 2 | 5 | $112,464 | $21,369 |
| Fairfield Police Pension Fund | $314,781 | 8 | 12 | $327,121 | $53,305 |
| Flora Police Pension Fund | $312,935 | 11 | 11 | $258,122 | $71,979 |
| Hoopeston Police Pension Fund | $206,663 | 10 | 11 | $136,043 | $47,620 |
| Lawrenceville Police Pension Fund | $254,552 | 8 | 6 | $171,516 | $31,919 |
| Mattoon Firefighters Pension Fund | $2,225,941 | 57 | 32 | $1,367,692 | $202,743 |
| Mattoon Police Pension Fund | $1,984,166 | 46 | 37 | $1,403,050 | $253,098 |
| Monticello Police Pension Fund | $149,515 | 7 | 6 | $222,106 | $31,444 |
| Mt. Carmel Firefighters Pension Fund | $96,542 | 3 | 4 | $105,913 | $20,943 |
| Mt. Carmel Police Pension Fund | $403,767 | 15 | 11 | $227,832 | $51,688 |
| Olney Firefighters Pension Fund | $177,457 | 4 | 4 | $161,480 | $20,754 |
| Olney Police Pension Fund | $554,177 | 15 | 12 | $464,954 | $63,636 |
| Paris Firefighters Pension Fund | $553,298 | 17 | 14 | $388,311 | $67,103 |
| Paris Police Pension Fund | $276,418 | 11 | 15 | $353,678 | $89,176 |
| Pontiac Firefighters Pension Fund | $342,460 | 10 | 13 | $299,429 | $72,732 |
| Pontiac Police Pension Fund | $489,069 | 15 | 19 | $308,389 | $107,747 |
| Roberts Park FPD Firefighters Pension Fund | $837,541 | 18 | 16 | $276,451 | $140,432 |
| Robinson Firefighters Pension Fund | $191,641 | 7 | 9 | $118,089 | $32,918 |
| Robinson FPD Firefighters Pension Fund | $272,779 | 9 | 9 | $181,916 | $38,429 |
| Robinson Police Pension Fund | $147,437 | 5 | 12 | $287,276 | $65,734 |
| Shelbyville FPD Firefighters Pension Fund | $84,607 | 5 | 4 | $62,315 | $62,315 |
| Shelbyville Police Pension Fund | $131,487 | 4 | 6 | $168,128 | $33,182 |
| Sullivan FPD Firefighters Pension Fund | $196,395 | 7 | 10 | $143,375 | $57,878 |
| Watseka Police Pension Fund | $374,901 | 10 | 7 | $710,649 | $54,384 |
| COUNTY TOTAL | $21,884,811 | 576 | 503 | $15,688,581 | $3,101,131 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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