Marengo at 77% Funding of Its Police Pension Fund, Down from 86% in 2006

Among the best funded municipal Police Pension Funds is Marengo’s.

In 2010, it had 77.44% of the amount that it has obligated for retired police officers.

Here are the figures since

The figures go back to the turn of the century, but are not in the same format.


Comments

Marengo at 77% Funding of Its Police Pension Fund, Down from 86% in 2006 — 2 Comments

  1. Somethings wrong.

    The figures above figures are not even close to the Marengo Police figures in the Illinois Department of Insurance Public Pension Division 2015 Biennial Report covering 2013 & 2013.

    Each IDOI report (they are issued every 2 years) has an annual 10 year history from April 30, 2005 through April 30, 2014.

    http://insurance.illinois.gov/Reports/Report_Links.asp

  2. McHenry Times

    Marengo Pension Shortfall Brings Credit Rating Plunge

    by Kyle Perrotti

    March 22, 2017

    “In particular, Marengo’s single-employer police pension plan wsa only 28 percent funded based on GASB (Government Accounting Standards Board) 68 at the end of the 2016 fiscal year, and the city has consistently underfunded its actuarially determined contribution for multiple consecutive years, which, in our view, makes further acceleration of the plan’s already elevated annual costs more likely.”

    http://www.mchenrytimes.com/stories/511096782-marengo-pension-shortfall-brings-credit-rating-plunge

    +++++

    “our view” is referring to S&P Global Ratings credit analyst Scott Nees and his team.

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