Illinois Valley’s 21 police and fire pension funds paid out a total of $9,939,934 in benefits to 315 retirees and inactive recipients last year while gaining $418,986 on their investments, according to an Illinois Valley Times analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Times analyzed financials reported by firefighter and police funds across the region, including Kewanee, LaSalle, Ottawa, and Streator. Collectively, the 21 funds hold approximately $124 million in assets.
All told, the funds paid out $9,772,179 more in 2016 than they earned, including $251,231 in fees paid to investment advisers, according to the filings.
$8 million from Illinois Valley property taxpayers
Illinois Valley property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $8,113,690.
Ottawa property taxpayers paid the most to pension funds, at $1.66 million in 2016. The cities’ two funds lost $397,597, spending $25,906 on investment adviser fees.
Streator taxpayers contributed $1.27 million to their police and fire pension funds, followed by Peru ($1,053,722), LaSalle ($873,643), and Cherry Valley ($660,987).
Six Illinois Valley funds lost money in 2016, when the S&P 500 returned 12 percent.
Ottawa’s police officers’ fund lost $234,098 on $18.21 million in assets (-1.29 percent). It paid out $1 million in benefits.
Ottawa’s firefighters’ fund lost $163,499 on $12.93 million in assets (-0.90 percent). It paid out $1.56 million in benefits.
Kewanee’s firefighters’ fund lost $130,932 on $9.33 million in assets (-1.40 percent). It paid out $809,206 in benefits.
LaSalle’s police officers’ fund lost $70,762 on $7 million in assets (-1.0 percent). It paid out $855,298 in benefits.
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Illinois Valley Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Cherry Valley FPD Firefighters Pension Fund | $0 | $62,020 | $11,670 | $50,350 |
| Cherry Valley Police Pension Fund | $478,555 | $9,689 | $14,571 | -$483,436 |
| Kewanee Community FPD Firefighters Pension Fund | $75,129 | $2,815 | $0 | -$72,314 |
| Kewanee Firefighters Pension Fund | $809,206 | -$130,932 | $21,710 | -$961,847 |
| Kewanee Police Pension Fund | $768,827 | -$39,632 | $130 | -$808,588 |
| Lasalle Firefighters Pension Fund | $86,972 | $31,151 | $5,090 | -$60,911 |
| Lasalle Police Pension Fund | $855,298 | -$70,762 | $21,481 | -$947,542 |
| Marseilles Police Pension Fund | $64,479 | $22,635 | $0 | -$41,844 |
| Mendota Firefighters Pension Fund | $76,941 | $66,060 | $5,532 | -$16,413 |
| Mendota Police Pension Fund | $0 | $37,620 | $17,338 | $20,282 |
| Oglesby Police Pension Fund | $214,565 | $91,276 | $2,400 | -$125,689 |
| Ottawa Firefighters Pension Fund | $1,560,942 | -$163,499 | $25,906 | -$1,750,347 |
| Ottawa Police Pension Fund | $1,009,731 | -$234,098 | $0 | -$1,243,829 |
| Peru Firefighters Pension Fund | $125,574 | $61,640 | $8,582 | -$72,515 |
| Peru Police Pension Fund | $875,938 | -$39,314 | $27,497 | -$942,749 |
| Princeton Firefighters Pension Fund | $456,021 | $29,576 | $26,928 | -$453,373 |
| Princeton Police Pension Fund | $481,039 | $105,308 | $15,100 | -$390,831 |
| Rutland/Dundee Twps FPD Firefighters Pension Fund | $119,145 | $28,086 | $12,026 | -$103,086 |
| Spring Valley Police Pension Fund | $127,228 | $128,850 | $5,938 | -$4,316 |
| Streator Firefighters Pension Fund | $714,755 | $40,055 | $10 | -$674,710 |
| Streator Police Pension Fund | $1,039,589 | $380,442 | $29,324 | -$688,470 |
| TOTAL | $9,939,934 | $418,986 | $251,231 | -$9,772,179 |
Illinois Valley Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Cherry Valley FPD Firefighters Pension Fund | $0 | 0 | 14 | $234,244 | $110,686 |
| Cherry Valley Police Pension Fund | $478,555 | 10 | 13 | $426,743 | $92,030 |
| Kewanee Community FPD Firefighters Pension Fund | $75,129 | 3 | 3 | $71,994 | $9,603 |
| Kewanee Firefighters Pension Fund | $809,206 | 27 | 17 | $315,307 | $130,596 |
| Kewanee Police Pension Fund | $768,827 | 23 | 22 | $339,843 | $126,669 |
| Lasalle Firefighters Pension Fund | $86,972 | 3 | 4 | $142,838 | $23,131 |
| Lasalle Police Pension Fund | $855,298 | 20 | 24 | $730,805 | $140,204 |
| Marseilles Police Pension Fund | $64,479 | 3 | 9 | $104,848 | $62,578 |
| Mendota Firefighters Pension Fund | $76,941 | 2 | 6 | $103,673 | $32,908 |
| Mendota Police Pension Fund | $0 | 10 | 15 | $339,745 | $122,067 |
| Oglesby Police Pension Fund | $214,565 | 5 | 9 | $279,585 | $51,335 |
| Ottawa Firefighters Pension Fund | $1,560,942 | 41 | 29 | $969,642 | $175,902 |
| Ottawa Police Pension Fund | $1,009,731 | 29 | 35 | $690,595 | $255,453 |
| Peru Firefighters Pension Fund | $125,574 | 3 | 4 | $130,312 | $21,538 |
| Peru Police Pension Fund | $875,938 | 21 | 25 | $923,410 | $161,858 |
| Princeton Firefighters Pension Fund | $456,021 | 11 | 12 | $267,488 | $83,955 |
| Princeton Police Pension Fund | $481,039 | 8 | 16 | $335,106 | $140,326 |
| Rutland/Dundee Twps FPD Firefighters Pension Fund | $119,145 | 3 | 8 | $236,573 | $52,413 |
| Spring Valley Police Pension Fund | $127,228 | 5 | 10 | $199,946 | $62,587 |
| Streator Firefighters Pension Fund | $714,755 | 19 | 16 | $571,726 | $88,090 |
| Streator Police Pension Fund | $1,039,589 | 26 | 24 | $699,267 | $161,473 |
| TOTAL | $9,939,934 | 272 | 315 | $8,113,690 | $2,105,402 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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