A Friend of McHenry County Blog pulled this pension funding information for 2012 through 2016 from the Illinois Insurance Department.
Local levels of pension funding, financed mainly from property taxes, are compared with those of state pension funds, including thos eof legislators (of which I am one on the receiving end) and judges.
The Illinois Municipal Retirement Fund, financed from real estate taxes, is the pension system for county employees, including those working for the Sheriff’s Department, plus municipal, park district and library district workers.
The McHenry Township Fire Protection District is funded at a stunning 515.83%–five times higher than the amount needed to pay accrued pensions.
Nest are the Barrington and Huntley pension funds for firefighters–both over 89%.
The Nunda Rural Fire Protection District is lowest on the list at 2.68%.
Besides Nunda Rural, locally, the following are under 50% are those of
Johnsburg Police – 40.05%
Marengo Police – 44.01%
On can easily see that local boards have done a much better job of funding their pension liabilities that state government.
| 4/30/2016 | 4/30/2015 | 4/30/2014 | 4/30/2013 | 4/30/2012 | |||
| Actuarial Funding % | 77.83% | 75.43% | 75.26% | 76.06% | 71.36% | ALGONQUIN LAKE IN THE HILLS FPD PENSION FUND | |
| Actuarial Funding % | 65.66% | 64.68% | 63.70% | 65.05% | 64.24% | ALGONQUIN POLICE PENSION FUND | |
| Actuarial Funding % | 89.67% | 89.75% | 90.92% | 80.86% | 80.16% | BARRINGTON FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 63.08% | 61.64% | 58.92% | 56.28% | 53.91% | BARRINGTON HILLS POLICE PENSION FUND | |
| Actuarial Funding % | 58.84% | 58.17% | 54.34% | 53.29% | 52.91% | CARPENTERSVILLE POLICE PENSION FUND | |
| Actuarial Funding % | 84.59% | 82.53% | 80.30% | 84.06% | 82.14% | CARY FPD FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 51.47% | 50.27% | 51.77% | 52.51% | 51.31% | CARY POLICE PENSION FUND | |
| Actuarial Funding % | 70.04% | 68.41% | 67.62% | 65.52% | 64.28% | CRYSTAL LAKE FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 59.22% | 59.28% | 58.04% | 57.41% | 58.49% | CRYSTAL LAKE POLICE PENSION FUND | |
| Actuarial Funding % | N/A | N/A | N/A | FOX LAKE FIREFIGHTERS PENSION FUND | |||
| Actuarial Funding % | 85.25% | 78.95% | 71.82% | 72.91% | 57.04% | FOX LAKE FIREFIGHTERS FPD PENSION FUND | |
| Actuarial Funding % | 79.60% | 74.35% | 72.95% | 74.56% | 71.15% | FOX LAKE POLICE PENSION FUND | |
| Actuarial Funding % | N | /A | N/A | N/A | FOX RIVER GROVE FPD FIREFIGHTERS PENSION FUND | ||
| Actuarial Funding % | 28.67% | 16.02% | 16.01% | 19.56% | 18.81% | FOX RIVER GROVE POLICE PENSION FUND | |
| Actuarial Funding % | 13.99% | 16.01% | 15.96% | 16.18% | 18.48% | GENERAL ASSEMBLY RETIREMENT SYSTEM | |
| Actuarial Funding % | N/A | N/A | N/A | HARVARD FPD PENSION FUND | |||
| Actuarial Funding % | 65.82% | 64.33% | 64.96% | 67.10% | 64.55% | HARVARD POLICE PENSION FUND | |
| Actuarial Funding % | 89.28% | 89.82% | 89.83% | 94.19% | 96.14% | HUNTLEY FPD FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 51.37% | 51.12% | 48.27% | 44.53% | 41.16% | HUNTLEY POLICE PENSION FUND | |
| Actuarial Funding % | 90.41% | 90.05% | 89.13% | 89.69% | 87.12% | ILLINOIS MUNICIPAL RETIREMENT FUND | |
| Actuarial Funding % | 40.05% | 40.39% | 41.56% | 43.22% | 42.00% | JOHNSBURG POLICE PENSION FUND | |
| Actuarial Funding % | 34.20% | 34.75% | 31.64% | 28.29% | 29.74% | JUDGES RETIREMENT SYSTEM OF ILLINOIS | |
| Actuarial Funding % | 57.02% | 53.24% | 52.69% | 52.63% | LABORERS AND RETIREMENT BOARD EMPLOYEE’S A & B FUND OF CHICAGO | ||
| Actuarial Funding % | 80.72% | 80.80% | 78.78% | 79.26% | 81.46% | LAKE IN THE HILLS POLICE PENSION FUND | |
| Actuarial Funding % | 44.01% | 43.65% | 43.72% | 43.90% | 44.98% | MARENGO POLICE PENSION FUND | |
| Actuarial Funding % | 53.76% | 52.91% | 52.27% | 52.21% | 51.97% | MCHENRY POLICE PENSION FUND | |
| Actuarial Funding % | 515.83% | 1154.51% | 1744.91% | 1242.73% | 66.05% | MCHENRY TOWNSHIP FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 2.68% | 3.32% | 3.78% | 3.48% | 3.51% | NUNDA RURAL FPD FIREFIGHTERS PENSION FUND | |
| Actuarial Funding % | 39.15% | 43.47% | 43.71% | 45.53% | 43.37% | CHICAGO PARK EMPLOYEES & RETIREMENT BOARD FUND A & B | |
| Actuarial Funding % | 51.26% | 42.03% | 37.88% | 36.40% | 35.43% | SPRING GROVE POLICE PENSION FUND | |
| Actuarial Funding % | 34.35% | 36.18% | 33.69% | 34.21% | 34.68% | STATE EMPLOYEES RETIREMENT SYSTEM OF ILLINOIS | |
| Actuarial Funding % | 43.26% | 43.26% | 42.33% | 41.49% | 42.06% | STATE UNIVERSITIES RETIREMENT SYSTEM | |
| Actuarial Funding % | 39.81% | 42.02% | 40.63% | 40.64% | 42.15% | TEACHERS RETIREMENT SYSTEM OF ILLINOIS | |
| Actuarial Funding % | 62.90% | 59.12% | 51.45% | 55.29% | 53.36% | WOODSTOCK FIRE/RESCUE DIST. FIREFIGHTERS PENSION | |
| Actuarial Funding % | 63.66% | 65.89% | 65.58% | 65.64% | 65.86% | WOODSTOCK POLICE PENSION FUND |
I’d like to thank all these selfless public servants, for making me the oldest person to crack Forbe’s thousandaire club
Why are all the police pension funds more underfunded relative to their fire department counterparts?