1. States
  2. /Illinois
  3. /Will County
  4. /New Lenox
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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

80.8%

Total Unfundedi

$11.5M

Annual Employer Costi

$2.5M

80 active / 28 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

11.45%

Covered Payrolli

$4.1M

Employer Rate Breakdowni

Retirement Normal Costi5.0%
Funding Adjustmenti5.8%
Death Benefiti0.1%
Disabilityi0.0%
Supplemental Benefiti0.6%
Total Employer Ratei11.4%
Member (Employee) Ratei4.5%

Amortization period: 17 years remainingi

Police Pension

NEW LENOX POLICE PENSION FUND

Funded Ratioi

69.7%

Financial Position

Assets (Market)i$35.4M
Accrued Liabilityi$51.5M
Unfunded Liabilityi$15.6M

Annual Cash Flow

Employer Contributioni$1.7M
Employee Contributioni$972K
Investment Incomei$3.1M
Benefits Paidi$2.3M

Contribution Adequacy

Required: $1.5MActual: $1.7M+$202K

Investments

1-Year Returni+9.3%

Membershipi

39 active27 retired

Fire Pension

NEW LENOX FPD FIREFIGHTERS PENSION FUND

Funded Ratioii

150.8%

Financial Position

Assets (Market)i$12.2M
Accrued Liabilityi$8.1M
Unfunded Liabilityi-$4.1M

Annual Cash Flow

Employer Contributioni$818K
Employee Contributioni$402K
Investment Incomei$1.1M
Benefits Paidi$214K

Contribution Adequacy

Required: $470KActual: $818K+$348K

Investments

1-Year Returni+10.1%

Membershipi

41 active1 retired