Carbondale Reporter

Carbondale Reporter

Tuesday, January 21, 2020

Analysis: These 3 Greater Carbondale pension funds would go bankrupt fastest without subsidies

Local Government

By Local Labs News Service | Apr 11, 2018

Budget 12

Pension funds in Marion, Murphysboro and Carbondale would go bankrupt first without subsidies from taxpayers and members, according to an analysis of data reported to the Illinois Department of Insurance.

Pension funds record revenue from investment income and other revenue, in addition to being subsidized by municipal taxes and member contributions. Taking those subsidies out of the equation and assuming the funds annual expenses are the same, the following table shows how long it would take for a pension fund to run out of money.

Which Greater Carbondale pension funds will go bankrupt first?

Rank
Fund
City
Total Non-Subsidy Revenue
Total Expenses
Total Annual Loss without Subsidy
Years Until Assets Spent
1
Marion Police Pension Fund
Marion
$173,454
$906,456
-$733,002
0
2
Murphysboro Firefighters Pension Fund
Murphysboro
$10,301
$383,280
-$372,979
0
3
Carbondale Firefighters Pension Fund
Carbondale
-$305,431
$1,631,965
-$1,937,396
0

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Organizations in this Story

Marion Police Pension FundMurphysboro Firefighters Pension FundCarbondale Firefighters Pension Fund

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