Pension funds in Moline, Geneseo and Silvis 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 Quad Cities 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
East Moline Police Pension Fund
Moline
$1,531,864
$1,730,803
-$198,939
0
2
Geneseo Police Pension Fund
Geneseo
$125,093
$382,874
-$257,781
0
3
Silvis Police Pension Fund
Silvis
$81,984
$518,148
-$436,164
0
4
Kewanee Police Pension Fund
Kewanee
-$39,583
$784,346
-$823,929
0
5
Milan Police Pension Fund
Milan
-$112,040
$552,752
-$664,792
0
6
Kewanee Firefighters Pension Fund
Kewanee
-$152,643
$818,569
-$971,212
0
7
Moline Firefighters Pension Fund
Moline
$1,473,038
$5,380,797
-$3,907,759
0
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