In 2016, Carbondale's firefighters' pension fund paid out over $2 million in benefits and lost $265K from investments.
In 2016, Carbondale's firefighters' pension fund paid out over $2 million in benefits and lost $265K from investments.
Southwest Illinois’ 25 police and fire pension funds paid out a total of $15,163,370 in benefits to 366 retirees and inactive recipients in 2016 while losing $49,671 on their investments, according to a Southwest Illinois News analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
Southwest Illinois News analyzed financials reported by firefighter and police funds across Southwest Illinois, including Carbondale, Herrin, Marion, Mount Vernon and Murphysboro. Collectively, the 25 funds hold approximately $144 million in assets and paid out $13,043,358 more in 2016 than they earned, including $383,891 in fees to investment advisers, according to the filings.
Southwest Illinois property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $11,047,295.
Carbondale property taxpayers paid the most to pension funds, at $2.98 million in 2016. The city’s funds lost a total of $192,779, spending $147,558 on investment adviser fees.
Mount Vernon property taxpayers contributed $1,623,807 to their city’s funds, followed by Herrin ($1,596,622), Marion ($1,215,800) and Murphysboro ($648,813).
Seven of the 25 funds lost money in 2016, when the S&P 500 returned 12 percent.
Mount Vernon’s police officers’ fund lost $320,893 on $18.37 million in assets (-1.75 percent) and paid out $1.32 million in benefits.
Mount Vernon’s firefighters’ fund lost $265,886 on $14.43 million in assets (-1.84 percent) and paid out $1.19 million in benefits.
Carbondale’s firefighters’ fund lost $265,037 on $13.47 million in assets (-1.97 percent) and paid out $1.60 million in benefits.
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Southwest Illinois Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Anna Firefighters Pension Fund | $189,809 | $29,697 | $145 | -$160,256 |
| Anna Police Pension Fund | $180,260 | $33,777 | $33 | -$146,516 |
| Benton Firefighters Pension Fund | $228,820 | -$22,792 | $9,203 | -$260,814 |
| Benton Police Pension Fund | $287,896 | $69,557 | $6,374 | -$224,714 |
| Cairo Firefighters Pension Fund | $272,564 | $2,911 | $1,187 | -$270,840 |
| Cairo Police Pension Fund | $329,958 | $8,200 | $3,891 | -$325,649 |
| Carbondale Fire Pension Fund | $1,602,708 | -$265,037 | $40,403 | -$1,908,148 |
| Carbondale Police Pension Fund | $2,407,083 | $72,258 | $107,155 | -$2,441,980 |
| Carbondale Township Firefighters Pension Fund | $0 | $20,403 | $4,622 | $15,781 |
| Carterville Firefighter's Pension Fund | $20,897 | $3,693 | $0 | -$17,204 |
| Carterville Police Pension Fund | $33,584 | $9,122 | $0 | -$24,462 |
| Chester Police Pension Fund | $146,648 | $18,849 | $0 | -$127,800 |
| Duquoin Firefighters Pension Fund | $266,343 | $14,275 | $6,200 | -$258,268 |
| Duquoin Police Pension Fund | $320,796 | -$20,403 | $9,349 | -$350,548 |
| Herrin Firefighters Pension Fund | $461,176 | -$90,203 | $20,942 | -$572,321 |
| Herrin Police Pension Fund | $357,409 | -$13,286 | $9,437 | -$380,132 |
| Jefferson FPD Firefighters Pension Fund | $126,456 | $20,132 | $0 | -$106,323 |
| Marion Firefighters Pension Fund | $506,344 | $43,156 | $23,265 | -$486,452 |
| Marion Police Pension Fund | $895,194 | $196,335 | $22,880 | -$721,738 |
| Mt. Vernon Firefighters Pension Fund | $1,191,451 | -$265,886 | $56,409 | -$1,513,746 |
| Mt. Vernon Police Pension Fund | $1,325,529 | -$320,893 | $27,984 | -$1,674,406 |
| Murphysboro Firefighters Pension Fund | $372,886 | $15,872 | $5,572 | -$362,586 |
| Murphysboro Police Pension Fund | $564,617 | $16,530 | $0 | -$548,086 |
| West Frankfort Firefighters Pension Fund | $460,912 | $313,605 | $14,241 | -$161,548 |
| West Frankfort Police Pension Fund | $60,457 | $60,457 | $14,601 | -$14,601 |
| TOTAL | $12,609,796 | -$49,671 | $383,891 | -$13,043,358 |
Southwest Illinois Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Anna Firefighters Pension Fund | $189,809 | 4 | 2 | $152,599 | $5,205 |
| Anna Police Pension Fund | $180,260 | 7 | 5 | $206,009 | $34,835 |
| Benton Firefighters Pension Fund | $228,820 | 7 | 5 | $108,071 | $31,177 |
| Benton Police Pension Fund | $287,896 | 11 | 10 | $443,771 | $52,456 |
| Cairo Firefighters Pension Fund | $272,564 | 10 | 4 | $210,006 | $12,703 |
| Cairo Police Pension Fund | $329,958 | 18 | 2 | $255,649 | $8,781 |
| Carbondale Fire Pension Fund | $1,602,708 | 37 | 30 | $809,742 | $161,057 |
| Carbondale Police Pension Fund | $2,407,083 | 61 | 69 | $2,175,859 | $393,468 |
| Carbondale Township Firefighters Pension Fund | $0 | 0 | 4 | $49,000 | $10,401 |
| Carterville Firefighter's Pension Fund | $20,897 | 0 | 4 | $54,990 | $23,793 |
| Carterville Police Pension Fund | $33,584 | 1 | 6 | $95,241 | $31,604 |
| Chester Police Pension Fund | $146,648 | 7 | 8 | $131,575 | $45,907 |
| Duquoin Firefighters Pension Fund | $266,343 | 9 | 7 | $300,312 | $40,108 |
| Duquoin Police Pension Fund | $320,796 | 8 | 11 | $232,167 | $63,269 |
| Herrin Firefighters Pension Fund | $461,176 | 9 | 13 | $600,500 | $98,776 |
| Herrin Police Pension Fund | $357,409 | 9 | 18 | $996,122 | $119,990 |
| Jefferson FPD Firefighters Pension Fund | $126,456 | 7 | 4 | $99,935 | $18,048 |
| Marion Firefighters Pension Fund | $506,344 | 14 | 25 | $493,200 | $139,192 |
| Marion Police Pension Fund | $895,194 | 21 | 31 | $722,600 | $180,337 |
| Mt. Vernon Firefighters Pension Fund | $1,191,451 | 40 | 29 | $751,183 | $185,080 |
| Mt. Vernon Police Pension Fund | $1,325,529 | 34 | 40 | $872,624 | $259,417 |
| Murphysboro Firefighters Pension Fund | $372,886 | 10 | 11 | $318,579 | $52,269 |
| Murphysboro Police Pension Fund | $564,617 | 16 | 14 | $330,233 | $113,331 |
| West Frankfort Firefighters Pension Fund | $460,912 | 12 | 9 | $282,093 | $48,288 |
| West Frankfort Police Pension Fund | $60,457 | 14 | 13 | $355,234 | $60,457 |
| TOTAL | $12,609,796 | 366 | 374 | $11,047,295 | $2,189,948 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
Note: Pinckneyville Police Pension Fund's recipient numbers were not made available.
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