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Metro East Sun

Monday, April 28, 2025

Analysis: Jerseyville Police Pension Fund would go broke in six years without taxpayer subsidy

Money 03

Without members and taxpayers subsidizing its revenue, Jerseyville Police Pension Fund lost $578,580 in 2016, according to a Metro East Sun analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

The fund has $3,310,558 in total assets. If the funds annual losses were the same, it would run out of money in six years without these subsidies.

The fund lost $20,137 in investment income and other revenue in 2016. At the same time, it paid out $558,443 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 $506,171 to the funds revenue last year – an amount that has increased from $254,090 five years ago. Members contributed an additional $89,791 – $15,321 more than five years ago.

In all, subsidies amounted to $595,962 in 2016.

Jerseyville Police Pension Fund non-subsidy revenue over five years
YearTotal non-subsidy revenueTotal expensesOutcome without subsidies
2016-$20,137$558,443-$578,580
2015$237,152$549,511-$312,359
2014$236,827$494,604-$257,777
2013$261,236$484,133-$222,897
2012$64,903$471,866-$406,963

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