In 2016, Peoria's firefighters' pension fund paid out over $11 million and lost $1 million from investments.
In 2016, Peoria's firefighters' pension fund paid out over $11 million and lost $1 million from investments.
Peoria County’s four police and fire pension funds paid out a total of $26,199,732 in benefits to 486 retirees and inactive recipients in 2016 while losing $514,976 on their investments, according to a Peoria Standard analysis of the funds' mandated financial filings with the Illinois Department of Insurance.
The Standard analyzed financials reported by firefighter and police funds from Peoria, as well as police funds from Chillicothe and Peoria Heights. Collectively, the four funds hold approximately $299 million in assets and paid out $27,399,195 more in 2016 than they earned, including $684,487 in fees to investment advisers, according to the filings.
$15 million from Peoria County property taxpayers
Peoria County property taxpayers made up most of the difference, subsidizing the funds last year to the tune of $15,487,449.
City of Peoria property taxpayers paid the most to pension funds, at $15.01 million in 2016. The city’s two funds lost $553,024, spending $684,425 on investment adviser fees.
Peoria Heights taxpayers contributed $262,677 to the city's police officers' fund, followed by Chillicothe taxpayers, which contributed $212,885.
One of Peoria County’s funds lost more money than the other three made in 2016, when the S&P 500 returned 12 percent.
City of Peoria’s firefighters’ fund lost $1,171,394 on $132.53 million in assets (-0.88 percent) and paid out $11.84 million in benefits.
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Peoria County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Investment Income | Investment Expenses | Difference |
| Chillicothe Police Pension Fund | $224,513 | $27,411 | $0 | -$197,102 |
| Peoria Firefighters Pension Fund | $11,845,503 | -$1,171,394 | $356,580 | -$13,373,477 |
| Peoria Heights Police Pension Fund | $103,775 | $10,637 | $63 | -$93,200 |
| Peoria Police Pension Fund | $14,025,941 | $618,370 | $327,845 | -$13,735,416 |
| COUNTY TOTAL | $26,199,732 | -$514,976 | $684,487 | -$27,399,195 |
Peoria County Pensions: Investments and Benefits Paid
| Pension Fund | Total Benefits Paid | Retirees/Inactive Recipients* | Active Employees | Taxpayer Subsidies | Member Contributions |
| Peoria Police Pension Fund | $14,025,941 | 261 | 223 | $7,858,832 | $1,821,130 |
| Peoria Firefighters Pension Fund | $11,845,503 | 213 | 202 | $7,153,055 | $1,690,647 |
| Peoria Heights Police Pension Fund | $103,775 | 5 | 13 | $262,677 | $71,570 |
| Chillicothe Police Pension Fund | $224,513 | 7 | 8 | $212,885 | $51,205 |
| COUNTY TOTAL | $26,199,732 | 486 | 446 | $15,487,449 | $3,634,552 |
*Retirees/Inactive Recipients, Active Employees as of 2014.
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