In 2016, Champaign's firefighters' pension fund paid out almost $5 million in befits and made $1.69 million from investments.
In 2016, Champaign's firefighters' pension fund paid out almost $5 million in befits and made $1.69 million from investments.
Champaign County’s eight police and fire pension funds paid out a total of $16,608,195 in benefits to 345 retirees and inactive recipients in 2016 year while making $4.47 million on their investments, according to a Chambana Sun analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Sun analyzed financials reported by firefighter and police funds in Champaign and Urbana, firefighter funds in Homer and Ivesdale, and police funds in Mahomet and Rantoul. Collectively, the eight funds hold approximately $269 million in assets and paid out $13 million more in 2016 than they earned, including $920,780 in fees to investment advisers, according to the filings.
$12 million from Champaign County property taxpayers
Champaign County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $12,646,036.
City of Champaign property taxpayers paid the most to pension funds, at $8.82 million in 2016. The city’s funds made a total of $2.31 million, spending $632,293 on investment adviser fees.
Urbana property taxpayers contributed $2.43 million to their city’s funds, followed by Rantoul ($683,547) and Homer ($546,303).
Ivesdale’s firefighters’ fund was the only Champaign County pension fund to lose money in 2016, when the S&P 500 returned 12 percent.
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Champaign County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Champaign Firefighters Pension Fund | $4,995,612 | $1,690,666 | $189,813 | -$3,494,759 |
| Champaign Police Pension Fund | $5,985,439 | $625,556 | $442,480 | -$5,802,363 |
| Homer Township FPD Firefighters Pension Fund | $134,566 | $650,791 | $38,859 | $477,366 |
| Ivesdale FPD Firefighters Pension Fund | $0 | -$684 | $6 | -$690 |
| Mahomet Police Pension Fund | $0 | $12,138 | $1,459 | $10,680 |
| Rantoul Police Pension Fund | $1,094,473 | $119,021 | $47,535 | -$1,022,987 |
| Urbana Firefighters Pension Fund | $2,201,872 | $329,145 | $15,760 | -$1,888,486 |
| Urbana Police Pension Fund | $2,196,232 | $1,045,779 | $184,869 | -$1,335,321 |
| COUNTY TOTAL | $16,608,195 | $4,472,414 | $920,780 | -$13,056,561 |
Champaign County Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients | Active Employees | Taxpayer Subsidies | Member Contributions |
| Champaign Firefighters Pension Fund | $4,995,612 | 90 | 97 | $3,364,504 | $744,085 |
| Champaign Police Pension Fund | $5,985,439 | 122 | 119 | $5,455,503 | $1,044,350 |
| Homer Township FPD Firefighters Pension Fund | $134,566 | 6 | 40 | $546,303 | $337,477 |
| Ivesdale FPD Firefighters Pension Fund | $0 | 0 | 1 | $15,961 | $4,211 |
| Mahomet Police Pension Fund | $0 | 0 | 8 | $144,627 | $38,991 |
| Rantoul Police Pension Fund | $1,094,473 | 24 | 30 | $683,547 | $217,076 |
| Urbana Firefighters Pension Fund | $2,201,872 | 53 | 55 | $1,038,747 | $402,718 |
| Urbana Police Pension Fund | $2,196,232 | 50 | 57 | $1,396,844 | $444,105 |
| COUNTY TOTAL | $16,608,195 | 345 | 407 | $12,646,036 | $3,233,012 |
*Retirees/Inactive Recipients, Active Employees as of 2014
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