Darien Still Far From Cop Pension Goal

DARIEN, IL – Darien pours more money into police pensions every year, following its actuary's recommendations.

But the city seemingly makes no progress toward reaching its goal of cutting pension liabilities.

This week, officials, as they have before, expressed frustration about the trend.

Next budget year, the actuary, Jason Franken, is recommending the city contribute $3.1 million to the pension account, up from $3 million this year.

The increase is less than the previous year's $400,000 hike.

In 2002, the city put $200,000 into police pensions. Eight years ago, the number was $1.4 million, less than half of today's.

Towns across the state have seen similar increases.

Despite the hikes, the city's long-term pension funding is now at 57 percent, down from 61 percent 16 years ago.

The city's goal is 100 percent pension funding by 2040; the state requires 90 percent by that year.

Franken noted efforts in the state legislature to extend the 2040 deadline by a decade or more.

But he recommended Darien keep its 2040 goal no matter what the state does.

If the city followed the state's lead, it would see a better contribution situation for a decade, Franken said. But the long-term hole would get bigger, he warned.

State lawmakers' proposed changes are designed for towns that are at 25 percent funded or worse, Franken said. But the state proposals don't take the best interests of cities like Darien into account, he said.

Alderman Ted Schauer said when he was elected in 2009, the city's contribution was $900,000 and that pensions were funded at 61 percent long-term. Now, he said, the city is below 60 percent.

"I'm venting more than anything at this moment," he said.

Darien's treasurer, Michael Coren, said the city does the right thing by following the actuary's recommendations. But the state makes changes that put the city farther away from its goalposts, he said.

"So much of it is out of our control," he said.