Analysis: Macon County fire, police pension funds paid $16 million, made $1.7 million on investments in 2016
Macon County’s five police and fire pension funds paid out a total of $16,309,270 in benefits to 318 retirees and inactive recipients in 2016 while making $1.7 million on their investments, according to a Macon Reporter analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Reporter analyzed financials reported by firefighter and police funds in Decatur, as well as firefighter funds in Long Creek, Mt. Zion and Pleasantview. Collectively, the five funds hold approximately $197 million in assets and paid out $15 million more in 2016 than they earned, including $461,795 in fees to investment advisers, according to the filings.
The most recent filings for Mt. Zion Police Pension Fund were not made available.
$11 million from Macon County property taxpayers
Macon County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $11,121,638.
Decatur property taxpayers paid the most to pension funds, at $8.49 million in 2016. The city’s funds made a total of $470,898, spending $382,733 on investment adviser fees.
Pleasantview property taxpayers contributed $1.94 million to their city’s funds, followed by Long Creek ($656,133) and Mt. Zion ($30,896).
None of the funds lost money in 2016, when the S&P 500 returned 12 percent. Decatur’s police officers’ pension fund made $24,420 on $93.59 million in assets (0.03 percent), and paid out $6.82 million in benefits.
Macon County Pensions: Investments and Benefits Paid
|Pension Fund||Total Benefits Paid||Investment Income||Investment Expenses||Difference|
|Decatur Firefighters Pension Fund||$7,030,555||$446,478||$194,179||-$6,778,256|
|Decatur Police Pension Fund||$6,824,723||$24,420||$188,554||-$6,988,857|
|Long Creek FPD Firefighters Pension Fund||$41,158||$36,568||$310||-$4,900|
|Mt. Zion FPD Firefighters Pension Fund||$0||$2,631||$0||$2,631|
|Pleasantview FPD Firefighters Pension Fund||$2,412,833||$1,195,886||$78,752||-$1,295,698|
Macon County Pensions: Recipients and Funding
|Pension Fund||Total Benefits Paid||Retirees/Inactive Recipients*||Active Employees||Taxpayer Subsidies||Member Contributions|
|Decatur Firefighters Pension Fund||$7,030,555||132||106||$4,265,438||$847,728|
|Decatur Police Pension Fund||$6,824,723||155||164||$4,229,151||$1,240,308|
|Long Creek FPD Firefighters Pension Fund||$41,158||1||2||$656,133||$9,970|
|Mt. Zion FPD Firefighters Pension Fund||$0||1||2||$30,896||$13,134|
|Pleasantview FPD Firefighters Pension Fund||$2,412,833||29||40||$1,940,021||$363,090|
*Retirees/Inactive Recipients, Active Employees as of 2014.
Organizations in this Story
2625 Mount Zion Road
Long Creek, IL - 62521
141 S Main St
Decatur, IL - 62523
1400 East Village Parkway
Mount Zion, IL - 62549