Burr Ridge In 'Striking Distance' Of Pension Goal

BURR RIDGE, IL – Burr Ridge plans to put $81,000 more into the police pension account next year than what the state requires, officials said this week.

This year, it exceeded the state mandate by $23,000.

Burr Ridge trustees discussed the pension contribution this week during a discussion of next year's property tax levy.

As of 2021, the village's police pension account was 69 percent funded, according to the state comptroller's website.

"We're well within striking distance of being optimal," Mayor Gary Grasso said. "We're in great shape compared to any other municipality that you want to name."

Patch looked at the funded percentages of six nearby towns – Elmhurst, Darien, Hinsdale, La Grange, Western Springs and Clarendon Hills.

Only Elmhurst exceeded Burr Ridge's number, at 74 percent. Western Springs and Darien were close behind Burr Ridge, while Hinsdale and Clarendon Hills were about 60 percent. La Grange trailed the others, at 56 percent.

Trustees praised the proposal to go beyond the state's requirement.

"It gives us a chance to catch up on our unfunded liability," Trustee Guy Franzese said. "I appreciate that."

Trustee Russell Smith said he also liked the extra money going into the fund. He suggested the village form a committee with a couple of trustees to examine the long-term health of the pension fund.

Grasso said he had no problem with such an idea.

"We are in such good fiscal shape that that's the reason to do some planning," he said.