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  3. /Will County
  4. /Lockport
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Showing latest fiscal year with year-over-year changes. Full pension history available with a paid plan. View plans →

Pension Funds — FY 2024i

Source

Combined Funded Ratioi

69.2%

Total Unfundedi

$51.8M

Annual Employer Costi

$2.0M

40 active / 20 retired across all fundsi

Funded Ratio Trendi

Employer Contributions Over Timei

IMRF — General Employeesi

IMRF covers non-public-safety employees (2026 rates). System-wide funded ratio: 95.8%(Well-Funded)

Employer Ratei

7.09%

Covered Payrolli

$1.3M

Employer Rate Breakdowni

Retirement Normal Costi4.8%
Funding Adjustmenti1.6%
Death Benefiti0.1%
Disabilityi0.0%
Supplemental Benefiti0.6%
Total Employer Ratei7.1%
Member (Employee) Ratei4.5%

Amortization period: 17 years remainingi

Police Pension

LOCKPORT POLICE PENSION FUND

Funded Ratioi

76.0%

Financial Position

Assets (Market)i$38.7M
Accrued Liabilityi$51.9M
Unfunded Liabilityi$12.5M

Annual Cash Flow

Employer Contributioni$2.0M
Employee Contributioni$463K
Investment Incomei$3.4M
Benefits Paidi$1.9M

Contribution Adequacy

Required: $1.5MActual: $2.0M+$546K

Investments

1-Year Returni+9.1%

Membershipi

40 active20 retired

Fire Pension

LOCKPORT TOWNSHIP FPD FIREFIGHTERS PENSION FUND

Funded Ratioii

66.2%

Financial Position

Assets (Market)i—
Accrued Liabilityi$116.4M
Unfunded Liabilityi$39.3M

Annual Cash Flow