In 2016, Pekin's police officers' pension fund paid out over $2 million in benefits and lost $369K from investments.
In 2016, Pekin's police officers' pension fund paid out over $2 million in benefits and lost $369K from investments.
West-central Illinois’ 43 police and fire pension funds paid out a total of $43,041,315 in benefits to 1,050 retirees and inactive recipients in 2016 while losing $1,864,002 on their investments, according to a Western 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 western central Illinois, including Canton, Centralia, East Peoria, Pekin and Quincy. Collectively, the 43 funds hold approximately $455 million in assets and paid out $46.40 million more in 2016 than they earned, including $1,496,848 million in fees to investment advisers, according to the filings.
$31 million from West-central Illinois property taxpayers
West-central Illinois property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $31,032,275.
Quincy property taxpayers paid the most to pension funds, at $4.69 million in 2016. The city’s funds lost a total of $1,134,728, spending $204,707 on investment adviser fees.
Pekin property taxpayers contributed $3.95 million to their city’s funds, followed by Franklin Park ($3,583,425) and East Peoria ($2,985,736).
Twenty-one of the 43 funds lost money in 2016, when the S&P 500 returned 12 percent.
Quincy’s police officers’ fund lost $1.41 million on $33.23 million in assets (-4.26 percent) and paid out $3.05 million in benefits.
Jacksonville’s police officers’ fund lost $409,648 on $15.76 million in assets (-2.58 percent) and paid out $1.60 million in benefits.
Pekin’s police officers’ fund lost $369,840 on $28.98 million in assets (-1.28 percent) and paid out $2.37 million in benefits.
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Western Central Illinois Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Beardstown Firefighters Pension Fund | $40,542 | $12,915 | $6,865 | -$34,492 |
| Beardstown Police Pension Fund | $150,529 | $17,708 | $9,611 | -$142,433 |
| Canton Fire Pension Fund | $918,818 | -$41,544 | $21,525 | -$981,887 |
| Canton Police Pension Fund | $882,960 | -$222,794 | $88,268 | -$1,194,023 |
| Carlinville Police Pension Fund | $305,468 | $11,038 | $13,636 | -$308,066 |
| Centralia Firefighters Pension Fund | $938,808 | $433,791 | $26,085 | -$531,102 |
| Centralia FPD Firefighters Pension Fund | $26,735 | $5,208 | $1,791 | -$23,319 |
| Centralia Police Pension Fund | $1,216,480 | -$86,976 | $29,011 | -$1,332,467 |
| Creve Coeur Police Pension Fund | $255,216 | $17,449 | $7,542 | -$245,309 |
| East Peoria Firefighters Pension Fund | $1,410,276 | $80,550 | $94,980 | -$1,424,706 |
| East Peoria Police Pension Fund | $2,068,236 | -$60,842 | $120,445 | -$2,249,523 |
| Fairview Heights Police Pension Fund | $1,627,869 | -$152,535 | $115,577 | -$1,895,981 |
| Fairview-Caseyville FPD Firefighters Pension Fund | $127,272 | $36,071 | $8,426 | -$99,628 |
| Franklin Park Firefighters Pension Fund | $2,533,270 | $185,783 | $81,028 | -$2,428,516 |
| Franklin Park Police Pension Fund | $2,404,927 | $328,251 | $23,304 | -$2,099,980 |
| Galesburg Fire Fighters Pension Fund | $2,763,807 | -$132,183 | $70,187 | -$2,966,177 |
| Greenville Police Pension Fund | $157,738 | $73,925 | $12,090 | -$95,903 |
| Hillsboro Firefighter's Pension Fund | $63,569 | $2,433 | $439 | -$61,575 |
| Hillsboro Police Pension Fund | $40,262 | $9,167 | $1,360 | -$32,455 |
| Jacksonville Firefighters Pension Fund | $1,403,789 | -$170,561 | $19,000 | -$1,593,350 |
| Jacksonville Police Pension Fund | $1,601,111 | -$409,648 | $22,498 | -$2,033,257 |
| Lincoln Firefighters Pension Fund | $984,676 | $585,689 | $5,644 | -$404,631 |
| Lincoln Police Pension Fund | $1,284,352 | -$201 | $28,561 | -$1,313,114 |
| Lincoln Rural FPD Firefighters Pension Fund | $252,350 | $22,152 | $20,407 | -$250,605 |
| Litchfield Firefighters Pension Fund | $333,082 | -$84,759 | $14,692 | -$432,533 |
| Litchfield Police Pension Fund | $394,307 | -$42,985 | $13,941 | -$451,233 |
| Macomb Firefighters Pension Fund | $1,089,586 | -$174,304 | $43,588 | -$1,307,478 |
| Macomb Police Pension Fund | $1,175,206 | -$60,622 | $53,730 | -$1,289,559 |
| Monmouth Firefighters Pension Fund | $682,439 | $9,241 | $17,443 | -$690,641 |
| Monmouth Police Pension Fund | $561,876 | -$6,937 | $28,641 | -$597,454 |
| Morton Police Pension Fund | $535,278 | -$92,663 | $41,132 | -$669,073 |
| Pana Police Pension Fund | $303,680 | $3,308 | $12,438 | -$312,810 |
| Pekin Firefighters Pension Fund | $3,335,842 | -$362,128 | $75,052 | -$3,773,022 |
| Pekin Police Pension Fund | $2,373,461 | -$369,840 | $89,302 | -$2,832,603 |
| Quincy Firefighters Pension Fund | $3,403,608 | $281,244 | $141,364 | -$3,263,727 |
| Quincy Police Pension Fund | $3,049,461 | -$1,415,973 | $63,343 | -$4,528,777 |
| Salem FPD Firefighters Pension Fund | $109,804 | $46,190 | $0 | -$63,614 |
| Salem Police Pension Fund | $474,688 | -$125,058 | $0 | -$599,746 |
| Staunton Police Pension Fund | $66,352 | $14,303 | $3,626 | -$55,674 |
| Taylorville Firefighters Pension Fund | $438,593 | -$10,704 | $33,143 | -$482,439 |
| Taylorville Police Pension Fund | $445,559 | -$28,065 | $35,502 | -$509,126 |
| Vandalia Police Pension Fund | $322,475 | $60,057 | $5 | -$262,423 |
| Washington Police Pension Fund | $486,957 | -$49,152 | $1,627 | -$537,736 |
| TOTAL | $43,041,315 | -$1,864,002 | $1,496,848 | -$46,402,165 |
Western Central Illinois Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Beardstown Firefighters Pension Fund | $40,542 | 1 | 4 | $84,453 | $14,531 |
| Beardstown Police Pension Fund | $150,529 | 9 | 6 | $161,919 | $23,387 |
| Canton Fire Pension Fund | $918,818 | 23 | 14 | $654,815 | $103,113 |
| Canton Police Pension Fund | $882,960 | 23 | 23 | $416,195 | $324,610 |
| Carlinville Police Pension Fund | $305,468 | 11 | 11 | $185,762 | $57,559 |
| Centralia Firefighters Pension Fund | $938,808 | 26 | 18 | $470,933 | $98,752 |
| Centralia FPD Firefighters Pension Fund | $26,735 | 2 | 1 | $9,630 | $4,366 |
| Centralia Police Pension Fund | $1,216,480 | 35 | 22 | $638,167 | $125,151 |
| Creve Coeur Police Pension Fund | $255,216 | 5 | 5 | $382,526 | $28,348 |
| East Peoria Firefighters Pension Fund | $1,410,276 | 27 | 42 | $1,533,659 | $337,628 |
| East Peoria Police Pension Fund | $2,068,236 | 41 | 47 | $1,452,077 | $390,718 |
| Fairview Heights Police Pension Fund | $1,627,869 | 30 | 44 | $1,300,000 | $378,569 |
| Fairview-Caseyville FPD Firefighters Pension Fund | $127,272 | 2 | 3 | $422,361 | $24,683 |
| Franklin Park Firefighters Pension Fund | $2,533,270 | 52 | 42 | $1,814,047 | $356,782 |
| Franklin Park Police Pension Fund | $2,404,927 | 45 | 47 | $1,769,378 | $403,414 |
| Galesburg Fire Fighters Pension Fund | $2,763,807 | 71 | 42 | $2,328,400 | $289,576 |
| Greenville Police Pension Fund | $157,738 | 7 | 10 | $219,647 | $53,160 |
| Hillsboro Firefighter's Pension Fund | $63,569 | 3 | 5 | $115,481 | $20,505 |
| Hillsboro Police Pension Fund | $40,262 | 1 | 7 | $180,966 | $37,545 |
| Jacksonville Firefighters Pension Fund | $1,403,789 | 37 | 24 | $670,821 | $151,687 |
| Jacksonville Police Pension Fund | $1,601,111 | 46 | 39 | $992,848 | $241,315 |
| Lincoln Firefighters Pension Fund | $984,676 | 27 | 19 | $609,350 | $113,615 |
| Lincoln Police Pension Fund | $1,284,352 | 32 | 26 | $616,437 | $201,349 |
| Lincoln Rural FPD Firefighters Pension Fund | $252,350 | 6 | 6 | $47,891 | $25,662 |
| Litchfield Firefighters Pension Fund | $333,082 | 10 | 14 | $308,235 | $79,054 |
| Litchfield Police Pension Fund | $394,307 | 14 | 14 | $393,789 | $79,911 |
| Macomb Firefighters Pension Fund | $1,089,586 | 28 | 20 | $499,923 | $116,866 |
| Macomb Police Pension Fund | $1,175,206 | 35 | 29 | $507,833 | $161,818 |
| Monmouth Firefighters Pension Fund | $682,439 | 21 | 15 | $627,273 | $79,047 |
| Monmouth Police Pension Fund | $561,876 | 14 | 20 | $491,232 | $110,094 |
| Morton Police Pension Fund | $535,278 | 10 | 23 | $644,109 | $154,844 |
| Pana Police Pension Fund | $303,680 | 8 | 9 | $271,737 | $55,968 |
| Pekin Firefighters Pension Fund | $3,335,842 | 72 | 52 | $2,375,747 | $389,998 |
| Pekin Police Pension Fund | $2,373,461 | 60 | 55 | $1,577,451 | $425,591 |
| Quincy Firefighters Pension Fund | $3,403,608 | 83 | 63 | $2,569,640 | $379,247 |
| Quincy Police Pension Fund | $3,049,461 | 68 | 75 | $2,126,886 | $534,438 |
| Salem FPD Firefighters Pension Fund | $109,804 | 5 | 4 | $92,481 | $20,037 |
| Salem Police Pension Fund | $474,688 | 10 | 13 | $146,414 | $92,699 |
| Staunton Police Pension Fund | $66,352 | 3 | 5 | $138,856 | $27,414 |
| Taylorville Firefighters Pension Fund | $438,593 | 12 | 17 | $309,910 | $76,917 |
| Taylorville Police Pension Fund | $445,559 | 15 | 20 | $352,082 | $102,896 |
| Vandalia Police Pension Fund | $322,475 | 7 | 11 | $147,298 | $64,275 |
| Washington Police Pension Fund | $486,957 | 13 | 21 | $373,617 | $124,594 |
| TOTAL | $43,041,315 | 1,050 | 987 | $31,032,275 | $6,881,734 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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