Pension funds in Woodstock, Huntley and Crystal Lake would go bankrupt first without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.
Pension funds record revenue from investment income and other revenue, in addition to being subsidized by municipal taxes and member contributions. Taking those subsidies out of the equation and assuming the funds annual expenses are the same, the following table shows how long it would take for a pension fund to run out of money.
Which McHenry County pension funds will go bankrupt first?
Rank
Fund
City
Total Non-Subsidy Revenue
Total Expenses
Total Annual Loss without Subsidy
Years Until Assets Spent
1
Woodstock Fire/Rescue Dist. Firefighters' Pension
Woodstock
$119,328
$184,197
-$64,869
0
2
Huntley FPD Firefighters Pension Fund
Huntley
$183,228
$475,232
-$292,004
0
3
Cary FPD Firefighters Pension Fund
Crystal Lake
-$11,087
$64,629
-$75,716
0
4
Johnsburg Police Pension Fund
Johnsburg
$45,698
$118,088
-$72,390
0
5
Algonquin Lake In The Hills FPD Pension Fund
Lake in the Hills
$178,427
$836,009
-$657,582
0
6
Crystal Lake Firefighters Pension Fund
Crystal Lake
$292,962
$1,337,839
-$1,044,877
0
7
Algonquin Police Pension Fund
Algonquin
-$67,455
$932,803
-$1,000,258
0
8
Harvard Police Pension Fund
Harvard
$42,641
$558,073
-$515,432
0
9
Marengo Police Pension Fund
Marengo
$67,493
$328,087
-$260,594
0
10
Cary Police Pension Fund
Cary
$23,454
$648,526
-$625,072
0
11
Crystal Lake Police Pension Fund
Crystal Lake
-$528,211
$2,311,564
-$2,839,775
0
12
Woodstock Police Pension Fund
Woodstock
-$641,853
$1,235,983
-$1,877,836
0
13
Fox River Grove Police Pension Fund
Fox River Grove
$17,999
$386,934
-$368,935
0
ORGANIZATIONS IN THIS STORY
Johnsburg Police Pension Fund• Algonquin Police Pension Fund• Fox River Grove Police Pension Fund• Woodstock Fire/Rescue Dist. Firefighters' Pension• Harvard Police Pension Fund• Woodstock Police Pension Fund• Crystal Lake Firefighters Pension Fund• Lake In The Hills Police Pension Fund• Cary Police Pension Fund• Cary Fire Department Firefighters Pension Fund• Marengo Police Pension Fund• Crystal Lake Police Pension Fund• Algonquin Lake In The Hills Fire Protection District Pension Fund• Huntley Fire Protection District
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