In 2016, Springfield's firefighters' pension fund paid out over $13 million in benefits and lost over $5 million from investments.
In 2016, Springfield's firefighters' pension fund paid out over $13 million in benefits and lost over $5 million from investments.
Sangamon County’s four police and fire pension funds paid out a total of $26,027,658 in benefits to 484 retirees and inactive recipients in 2016 while losing $12,137,997 on their investments, according to a Sangamon 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 Chatham and Springfield. Collectively, the four funds hold approximately $274 million in assets and paid out $38,728,241 more in 2016 than they earned, including $562,586 in fees to investment advisers, according to the filings.
$19 million from Sangamon County property taxpayers
Sangamon County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $19,335,865.
Springfield property taxpayers paid the most to pension funds, at $18.8 million in 2016. The city’s two funds lost a combined $12.1 million, spending $540,202 on investment adviser fees.
Chatham taxpayers contributed $540,202 to their city’s funds, which lost $15,209 in investments and spent $22,384 on investment adviser fees.
Three of the four funds lost money in 2016, when the S&P 500 returned 12 percent.
Springfield’s firefighters’ fund lost $6.42 million on $145 million in assets (-4.41 percent) and paid out $12.06 million in benefits.
Springfield’s police officers’ fund lost $5.70 million on $120 million in assets (-4.73 percent) and paid out $13.67 million in benefits.
Chatham’s police officers’ fund lost $41,581 on $5.79 million in assets (-0.72 percent) and paid out $290,496 in benefits.
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Sangamon County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Springfield Police Pension Fund | $12,066,816 | -$6,421,340 | $271,461 | -$18,759,617 |
| Springfield Firefighters Pension Fund | $13,670,346 | -$5,701,448 | $268,741 | -$19,640,534 |
| Chatham Police Pension Fund | $290,496 | -$41,581 | $10,663 | -$342,740 |
| Chatham FPD Firefighters Pension Fund | $0 | $26,371 | $11,721 | $14,650 |
| COUNTY TOTAL | $26,027,658 | -$12,137,997 | $562,586 | -$38,728,241 |
Sangamon County Pensions: Recipients and Funding
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Springfield Firefighters Pension Fund | $13,670,346 | 242 | 217 | $9,786,645 | $1,696,300 |
| Springfield Police Pension Fund | $12,066,816 | 238 | 247 | $9,050,592 | $1,895,118 |
| Chatham Police Pension Fund | $290,496 | 4 | 16 | $326,628 | $108,237 |
| Chatham FPD Firefighters Pension Fund | $0 | 0 | 16 | $172,000 | $90,689 |
| COUNTY TOTAL | $26,027,658 | 484 | 496 | $19,335,865 | $3,790,344 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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