Without members and taxpayers subsidizing its revenue, the Spring Valley Police Pension Fund would have lost $64,949 in 2018, according to a Illinois Valley Times analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
The fund has $4,473,880 in total assets. If the fund’s annual losses stay the same, it would run out of money in 69 years without these subsidies.
The fund earned $119,049 in investment income and other revenue in 2018. At the same time, it paid out $183,998 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.
Taxpayers added $233,966 to the fund’s revenue last year – an amount that has increased from $129,465 five years ago. Members contributed an additional $58,242 – $2,771 more than five years ago.
In all, subsidies amounted to $292,208 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $119,049 | $183,998 | -$64,949 |
| 2017 | $144,194 | $203,620 | -$59,426 |
| 2016 | $122,912 | $142,487 | -$19,575 |
| 2015 | $126,004 | $113,341 | $12,663 |
| 2014 | $104,745 | $102,062 | $2,683 |
