Rockford Sun

Winnebago County and its surrounding communities’ 11 police and fire pension funds paid out a total of $35,260,478 in benefits to 720 retirees and inactive recipients in 2016 while making $1,847,833 on their investments, according to a Rockford 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 Winnebago County and its surrounding communities, including Belvidere, Rockford, Roscoe and South Beloit. Collectively, the 11 funds hold approximately $400 million in assets and paid out $34,116,170 more in 2016 than they earned, including $703,525 in fees to investment advisers, according to the filings.

$17 million from Winnebago County property taxpayers

Winnebago County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $17,238,850.

Rockford property taxpayers paid the most to pension funds, at $13.6 million in 2016. The city’s two funds gained $2.1 million, spending $566,882 on investment adviser fees.

Belvidere taxpayers contributed $1.86 million to their city’s funds, followed by Loves Park ($968,800) and South Beloit ($310,706).

Three of the 11 funds lost money in 2016, when the S&P 500 returned 12 percent.

Belvidere’s firefighters’ fund lost $233,168 on $14.10 million in assets (-1.65 percent) and paid out $1.22 million in benefits.

Loves Park’s police officers’ fund lost $124,319 on $12.79 million in assets (-0.97 percent) and paid out $1.06 million in benefits.

Sterling’s police officers’ fund lost $101,937 on $18.61 million in assets (-0.55 percent) and paid out $1.15 million in benefits.

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Winnebago County Pensions: Investments and Benefits Paid

Pension Fund	Total Benefits Paid	Investment Income	Investment Expenses	Difference
Belvidere Firefighters Pension Fund	$1,221,018	-$233,168	$59,230	-$1,513,416
Belvidere Police Pension Fund	$1,151,208	-$101,937	$58,806	-$1,311,951
Harlem-Roscoe Firefighters Pension Fund	$0	$7,914	$762	$7,152
Loves Park Police Pension Fund	$1,062,552	-$124,319	$813	-$1,187,684
Rockford Firefighters Pension Fund	$16,135,612	$399,657	$276,646	-$16,012,601
Rockford Police Pension Fund	$15,371,972	$1,702,694	$290,237	-$13,959,515
Rockton Police Pension Fund	$5,082	$96,819	$12,196	$79,541
Roscoe Police Pension Fund	$187,770	$67,716	$4,835	-$124,888
South Beloit Firefighters Pension Fund	$25,230	$28,152	$0	$2,922
South Beloit Police Pension Fund	$100,035	$3,882	$0	-$96,153
Win-Bur-Sew FPD Firefighters Pension Fund	$0	$424	$0	$424
TOTAL	$35,260,478	$1,847,833	$703,525	-$34,116,170

Source: Illinois Department of Insurance. Analysis: Rockford Sun.

Winnebago County Pensions: Recipients and Funding

Pension Fund	Total Benefits Paid	Retirees/Inactive Recipients*	Active Employees	Taxpayer Subsidies	Member Contributions
Belvidere Firefighters Pension Fund	$1,221,018	31	27	$783,447	$175,173
Belvidere Police Pension Fund	$1,151,208	27	41	$1,079,608	$291,901
Harlem-Roscoe Firefighters Pension Fund	$0	0	2	$35,736	$13,144
Loves Park Police Pension Fund	$1,062,552	22	32	$968,800	$239,942
Rockford Firefighters Pension Fund	$16,135,612	321	260	$7,345,613	$1,942,979
Rockford Police Pension Fund	$15,371,972	306	282	$6,252,516	$2,130,613
Rockton Police Pension Fund	$5,082	2	14	$220,029	$105,326
Roscoe Police Pension Fund	$187,770	7	12	$233,182	$91,789
South Beloit Firefighters Pension Fund	$25,230	1	4	$92,759	$23,570
South Beloit Police Pension Fund	$100,035	3	14	$217,947	$91,403
Win-Bur-Sew FPD Firefighters Pension Fund	$0	0	1	$9,215	$8,323
TOTAL	$35,260,478	720	689	$17,238,850	$5,114,164

Source: Illinois Department of Insurance. Analysis: Rockford Sun.

*Retirees/Inactive Recipients, Active Employees as of 2014.