In 2016, Crystal Lake's police officers' pension fund paid out over $2 million in benefits and lost $354K from investments.
In 2016, Crystal Lake's police officers' pension fund paid out over $2 million in benefits and lost $354K from investments.
McHenry County’s 19 police and fire pension funds paid out a total of $12,565,540 in benefits to 246 retirees and inactive recipients in 2016 while gaining $287,890 on their investments, according to a McHenry Times analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Times analyzed financials reported by firefighter and police funds in McHenry County, including Algonquin, Crystal Lake, Lake in the Hills, McHenry, and Woodstock. Collectively, the 19 funds hold approximately $223 million in assets and paid out $13,110,699 more in 2016 than they earned, including $833,049 in fees to investment advisers, according to the filings.
McHenry County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $15,772,754.
Crystal Lake property taxpayers paid the most to pension funds, at $3.99 million in 2016. The city's two funds gained $18,606, spending $253,929 on investment adviser fees.
Algonquin taxpayers contributed $1.24 million to their city’s police fund, while Lake in the Hill taxpayers paid $1.07 million; the two villages’ combined firefighters’ fund received $1.14 million in tax revenue.
Woodstock taxpayers paid $1.70 million to their two funds, followed by McHenry ($1,533,472) and Cary ($943,902).
Five McHenry County funds lost money in 2016, while the S&P 500 returned 12 percent.
Woodstock’s police officers’ fund lost $436,886 on $18.58 million in assets (-2.35 percent) and paid out $1.22 million in benefits.
Crystal Lake’s police officers’ fund lost $354,778 on $33.76 million in assets (-1.05 percent) and paid out $2.26 million in benefits.
McHenry’s police officers’ fund lost $208,004 on $21.15 million in assets (-0.98 percent) and paid out $2.05 million in benefits.
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McHenry County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Algonquin Lake In The Hills FPD Pension Fund | $792,325 | $238,025 | $57,361 | -$611,661 |
| Algonquin Police Pension Fund | $903,832 | $6,951 | $81,708 | -$978,589 |
| Barrington Hills Police Pension Fund | $411,322 | $50,723 | $23,946 | -$384,545 |
| Cary FPD Firefighters Pension Fund | $57,437 | -$918 | $10,170 | -$68,524 |
| Cary Police Pension Fund | $613,171 | $42,486 | $18,807 | -$589,491 |
| Crystal Lake Firefighters Pension Fund | $1,286,016 | $373,384 | $80,472 | -$993,104 |
| Crystal Lake Police Pension Fund | $2,258,561 | -$354,778 | $173,457 | -$2,786,796 |
| Fox River Grove Police Pension Fund | $376,018 | $26,029 | $9,537 | -$359,526 |
| Harvard Police Pension Fund | $536,337 | $46,837 | $11,349 | -$500,849 |
| Huntley Police Pension Fund | $174,629 | $77,526 | $24,252 | -$121,355 |
| Island Lake Police Pension Fund | $355,519 | $21,835 | $9,408 | -$343,092 |
| Johnsburg Police Pension Fund | $96,092 | $45,673 | $2,386 | -$52,805 |
| Lake In The Hills Police Pension Fund | $783,911 | -$11,224 | $70,795 | -$865,929 |
| Marengo Police Pension Fund | $308,893 | $77,305 | $11,985 | -$243,573 |
| Mchenry Police Pension Fund | $2,046,745 | -$208,004 | $20,843 | -$2,275,592 |
| Mchenry Township Firefighters Pension Fund | $0 | $91,239 | $11,943 | $79,296 |
| Spring Grove Police Pension Fund | $178,193 | $83,344 | $0 | -$94,849 |
| Woodstock Fire Rescue Dist. Firefighters Pension Fund | $164,181 | $118,343 | $9,472 | -$55,310 |
| Woodstock Police Pension Fund | $1,222,358 | -$436,886 | $205,159 | -$1,864,403 |
| COUNTY TOTAL | $12,565,540 | $287,890 | $833,049 | -$13,110,699 |
McHenry County Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contribution |
| Algonquin Lake In The Hills FPD Pension Fund | $792,325 | 16 | 46 | $1,138,707 | $363,559 |
| Algonquin Police Pension Fund | $903,832 | 10 | 46 | $1,240,000 | $450,578 |
| Barrington Hills Police Pension Fund | $411,322 | 7 | 16 | $693,107 | $154,480 |
| Cary FPD Firefighters Pension Fund | $57,437 | 1 | 6 | $158,562 | $52,364 |
| Cary Police Pension Fund | $613,171 | 15 | 28 | $785,340 | $227,529 |
| Crystal Lake Firefighters Pension Fund | $1,286,016 | 29 | 62 | $1,928,928 | $570,933 |
| Crystal Lake Police Pension Fund | $2,258,561 | 35 | 66 | $2,059,342 | $579,535 |
| Fox River Grove Police Pension Fund | $376,018 | 10 | 10 | $1,458,831 | $56,871 |
| Harvard Police Pension Fund | $536,337 | 7 | 18 | $494,857 | $140,321 |
| Huntley Police Pension Fund | $174,629 | 9 | 34 | $481,703 | $283,889 |
| Island Lake Police Pension Fund | $355,519 | 9 | 13 | $249,889 | $131,357 |
| Johnsburg Police Pension Fund | $96,092 | 4 | 11 | $189,611 | $74,236 |
| Lake In The Hills Police Pension Fund | $783,911 | 18 | 39 | $1,066,419 | $347,585 |
| Marengo Police Pension Fund | $308,893 | 11 | 13 | $259,382 | $108,697 |
| Mchenry Police Pension Fund | $2,046,745 | 33 | 46 | $1,386,205 | $513,111 |
| Mchenry Township Firefighters Pension Fund | $0 | 0 | 3 | $147,266 | $126,483 |
| Spring Grove Police Pension Fund | $178,193 | 4 | 7 | $332,003 | $51,533 |
| Woodstock Fire Rescue Dist. Firefighters Pension Fund | $164,181 | 4 | 37 | $756,012 | $334,311 |
| Woodstock Police Pension Fund | $1,222,358 | 24 | 37 | $946,589 | $302,301 |
| COUNTY TOTAL | $12,565,540 | 246 | 538 | $15,772,754 | $4,869,672 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
Note: Fox River Grove FPD and Harvard FPD firefighters' recipient numbers were not provided, as they dissolved during the recent biennial filings. Huntley FPD Firefighters' Fund data was not provided after 2010.
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