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East Central Reporter

Tuesday, November 26, 2024

Analysis: Robinson FPD Firefighters Pension Fund would go broke in 13 years without taxpayer subsidy

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Without members and taxpayers subsidizing its revenue, Robinson FPD Firefighters Pension Fund lost $277,793 in 2016, according to a East Central Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $3,541,213 in total assets. If the funds annual losses were the same, it would run out of money in 13 years without these subsidies.

The fund lost $2,133 in investment income and other revenue in 2016. At the same time, it paid out $275,660 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 $181,916 to the funds revenue last year – an amount that has increased from $128,469 five years ago. Members contributed an additional $38,429 – $3,570 more than five years ago.

In all, subsidies amounted to $220,345 in 2016.

Robinson FPD Firefighters Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016-$2,133$275,660-$277,793
2015$147,152$268,764-$121,612
2014$156,861$246,979-$90,118
2013$173,142$241,606-$68,464
2012$129,749$196,877-$67,128

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