East Central Reporter

Without members and taxpayers subsidizing its revenue, the Charleston Police Pension Fund would have lost $743,879 in 2018, according to a East Central Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $12,581,934 in total assets. If the fund’s annual losses stay the same, it would run out of money in 17 years without these subsidies.

The fund earned $714,788 in investment income and other revenue in 2018. At the same time, it paid out $1,458,667 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.

Taxpayers added $987,044 to the fund’s revenue last year – an amount that has increased from $665,412 five years ago. Members contributed an additional $240,179 – $58,008 more than five years ago.

In all, subsidies amounted to $1,227,223 in 2018.

Year	Total non-subsidy revenue	Total expenses	Outcome without subsidies
2018	$714,788	$1,458,667	-$743,879
2017	$823,497	$1,369,602	-$546,105
2016	-$264,568	$1,432,734	-$1,697,302
2015	$781,669	$1,223,019	-$441,350
2014	$662,917	$1,168,479	-$505,562