In 2016, Harrisburg's firefighters' pension fund paid over $200K in benefits and made $63K from investments.
In 2016, Harrisburg's firefighters' pension fund paid over $200K in benefits and made $63K from investments.
Southeast Illinois’ six police and fire pension funds paid out a total of $1,707,050 in benefits to 44 retirees and inactive recipients in 2016 while making $509,320 on their investments, according to a Southeast Illinois News analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
Southeast Illinois News analyzed financials reported by firefighter and police funds in Metropolis and Harrisburg, as well as police funds in Carmi and Eldorado. Collectively, the six funds hold approximately $22 million in assets and paid out $1,422,755 more in 2016 than they earned, including $225,024 in fees to investment advisers, according to the filings.
Southeast Illinois property taxpayers made up more than the difference, subsidizing the funds last year to the tune of $1,777,589.
Metropolis property taxpayers paid the most to pension funds, at $815,226 million in 2016. The city’s two funds made a combined $284,699, spending $13,972 on investment adviser fees.
Harrisburg property taxpayers contributed $615,635 to their city’s two funds, followed by Carmi ($277,855) and Eldorado ($68,873).
Carmi’s police officers’ fund was the only fund that lost money in 2016, while the S&P 500 returned 12 percent. The fund lost $1,600 on $3.18 million in assets, paying $388,334 in investment adviser fees.
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Southeast Illinois Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Carmi Police Pension Fund | $388,334 | -$1,600 | $8 | -$389,942 |
| Eldorado Police Pension Fund | $90,043 | $34,955 | $0 | -$55,088 |
| Harrisburg Firefighters Pension Fund | $202,187 | $63,703 | $12,756 | -$151,240 |
| Harrisburg Police Pension Fund | $486,322 | $127,563 | $186,297 | -$545,056 |
| Metropolis Firefighters Pension Fund | $217,840 | $113,099 | $13,972 | -$118,713 |
| Metropolis Police Pension Fund | $322,325 | $171,600 | $11,991 | -$162,716 |
| TOTAL | $1,707,050 | $509,320 | $225,024 | -$1,422,755 |
Southeast Illinois Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Carmi Police Pension Fund | $388,334 | 10 | 9 | $277,855 | $45,088 |
| Eldorado Police Pension Fund | $90,043 | 5 | 7 | $68,873 | $30,058 |
| Harrisburg Firefighters Pension Fund | $202,187 | 4 | 7 | $183,342 | $36,214 |
| Harrisburg Police Pension Fund | $486,322 | 9 | 14 | $432,293 | $80,198 |
| Metropolis Firefighters Pension Fund | $217,840 | 6 | 11 | $363,680 | $54,848 |
| Metropolis Police Pension Fund | $322,325 | 10 | 16 | $451,546 | $78,135 |
| TOTAL | $1,707,050 | 44 | 64 | $1,777,589 | $324,542 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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