Fox River Grove Has Only 23% Funding for Police Pension Fund
Fox River Grove has a Police Pension Fund presumably financed primarily by local property taxes.
The funding level is about half of that of the distressed State of Illinois pension funds.
Illinois funds it pension funds at 45%.
Fox River Grove is at 25%.
In dollar amounts, the Fund is $4.1 million short.
No wonder village officials wanted citizen permission to hike the local sales tax by 25%.
It failed, but by the narrowest of margins.
Take a look at the history of the FRG Police Pension Fund back to 2003. (I asked for the last ten years. Perhaps the Fund’s first year was 2003.)
