A Bright Spot In Elmhurst's Tough Budget Times

ELMHURST, IL – Elmhurst officials acknowledge the city is in a budget crunch.

But police and fire pensions are a bright spot.

Relative to other towns, Elmhurst's pension systems have more money on hand compared to the total value of benefits it is mandated to pay over time.

According to the annual pension reports, police and fire pensions are 75 percent and 71 percent funded, respectively, in the long-term.

Those percentages have been growing, with the city on a 15-year plan to be entirely funded.

Elmhurst is doing better than similarly wealthy towns. For instance, Hinsdale's and La Grange's police and fire pensions are about 55 percent funded, according to state comptroller reports.

Many towns are seeing major increases in their annual contributions to pension accounts.

By contrast, Elmhurst's recommended contributions are rising by about $47,000 next year. That's less than a 1 percent increase, significantly lower than the inflation rate.

According to the reports, 65 officers are paying into the police pension account, while 87 retired officers or their spouses are receiving pensions.

Meanwhile, 44 firefighters are contributing, while 54 retirees or their spouses are recipients.

On Monday night, the City Council's finance committee plans to review the pension reports from accounting firm Lauterbach & Amen.