Wirepoints has analyzed the pension situation in the 150 largest cities in Illinois.
[C]overage was restricted to the 175 cities, excluding Chicago, that have their own independent police, firefighter, and Illinois Municipal Retirement (IMRF) pension funds.
Crystal Lake made that list.
Here are the top level results:
Crystal Lake did not hold its own during this time when Aaron Shepley served as Mayor.
The results for each of the factors above can be found at this link.
Wirepoints points out
Complicating the situation is the fact that local officials can do little about the crisis. Local retirement costs are largely a consequence of the state’s top-down, one-size-fits-all mandates which prevent cities from actually solving their pension problems.
Funding ratios in 2019 for Crystal Lake’s pension funds follow:
- Police – 58.4%
- Firefighter – 70.5%
- INRF – 94.8%
City debts per household as a % of income in Crystal Lake is 1.5%.
City contribution per household as a % of income in Crystal Lake is 2/10 of 1%.
City contribution as a % of budget is 4.9%.
City-to-worker contribution ratio is 2.02.
Actual vs. actuarial city contribution (P&F only) is -19.9%.
Asset-to-payout ratio (P&F only) is 27.3%.
Worker-to-beneficiary ratio (P&F only) is 5.4.