DeKalb Times

DeKalb Times

Sunday, February 23, 2020

Analysis: DeKalb County fire, police pension funds paid $7.45 million, lost $770K on investments in 2016

Community

By Kyle Wahe | Jun 28, 2017

Sycamorefire
In 2016, Sycamore's firefighters' pension fund paid out over $700K in benefits.

DeKalb County's seven police and fire pension funds paid out $7.45 million in benefits to 151 retirees in 2016 while losing $770,396 on their investments, according to a DeKalb Times analysis of the funds' mandated financial filings with the Illinois Department of Insurance.

The Times analyzed financials reported by firefighter and police funds for DeKalb and Sycamore, police funds for Genoa and Sandwich, and the fire fund for Hinckley. Collectively, the funds hold approximately $83 million in assets and paid out $8,471,525 more in 2016 than they earned, including $249,853 in fees to investment advisers, according to the filings.

$5.25 million from DeKalb County property taxpayers

DeKalb County property taxpayers made up a large portion of the difference, subsidizing the funds last year to the tune of $5,245,862.

City of DeKalb property taxpayers paid the most to pension funds, at $3.8 million in 2016. 

The city's two funds paid out nearly $5.7 million to retirees while losing $312,112 in investments and paying $86,769 to investment advisers. 

Sycamore property taxpayers paid $485,399 to police and fire pension in funds in 2016, followed by Sandwich ($264,427) and Genoa ($221,541).

Three of the seven DeKalb County funds lost a combined $844,851 in 2016, when the S&P 500 returned 12 percent.

DeKalb's firefighters' fund lost $359,817 on $24.35 million in assets (-1.48 percent) and paid out $3 million in benefits.

Sycamore’s firefighters’ fund lost $330,376 on $12.59 million in assets (-2.62 percent) and paid out $754,893 in benefits. 

Sycamore’s police officers’ fund lost $154,658 on $11.94 million in assets (-1.30 percent) and paid out $696,850 in benefits. 

DeKalb County Pensions: Investments and Benefits Paid

Pension Fund

Total Benefits Paid

Investment Income

Investment Expenses

Difference

Dekalb Firefighters Pension Fund

$3,072,413

-$359,817

$43,831

-$3,476,061

Dekalb Police Pension Fund

$2,579,348

$47,706

$42,938

-$2,574,581

Genoa Police Pension Fund

$73,462

$24,864

$73,462

-$122,060

Hinckley Community FPD Firefighters Pension Fund

$0

$0

$0

$0

Sandwich Police Pension Fund

$274,310

$1,886

$19,768

-$292,193

Sycamore Firefighters Pension Fund

$754,893

-$330,376

$39,574

-$1,124,842

Sycamore Police Pension Fund

$696,850

-$154,658

$30,280

-$881,788

COUNTY TOTAL

$7,451,277

-$770,396

$249,853

-$8,471,525

Source: Illinois Department of Insurance

Analysis: DeKalb Times

DeKalb County Pensions: Recipients and Funding

Pension Fund

Total Benefits Paid

Retirees/Inactive Recipients*

Active Employees

Taxpayer Subsidies

Member Contributiosn

Dekalb Firefighters' Pension Fund

$3,072,413

59

57

$2,158,156

$477,022

Dekalb Police Pension Fund

$2,579,348

46

62

$1,622,105

$727,853

Genoa Police Pension Fund

$73,462

3

6

$221,541

$41,473

Hinckley Community FPD Firefighter's Pension Fund

$0

0

1

$8,852

$4,717

Sandwich Police Pension Fund

$274,310

10

14

$264,427

$118,271

Sycamore Firefighters' Pension Fund

$754,893

19

29

$579,311

$226,750

Sycamore Police Pension Fund

$696,850

14

30

$391,470

$258,649

COUNTY TOTAL

$7,451,277

151

199

$5,245,862

$1,854,735

Source: Illinois Department of Insurance

Analysis: DeKalb Times

*Retirees/Inactive Recipients, Active Employees as of 2014. 

Want to get notified whenever we write about any of these organizations ?

Sign-up Next time we write about any of these organizations, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Genoa Police Pension FundSandwich Police Pension FundSycamore Firefighters Pension FundSycamore Police Pension FundDekalb Firefighters Pension Fund

More News