Hinsdale taxpayers put $1.4 million into the village's police pension fund last year, but the fund still owes $19.4 million more than it holds.

The Hinsdale Police Pension Fund paid $2.7 million in benefits to 32 retirees, survivors and disabled members during the fiscal year that ended Dec. 31, 2025, according to the fund's annual statement filed with the Illinois Department of Insurance. The DuPage Policy Journal first reported the filing as part of its Municipal Pension Watch series reviewing every police and fire pension fund in DuPage County.

The fund is 62.2% funded based on the state's most recent actuarial valuation, which uses fiscal year 2024 figures. That means the fund is $19.4 million short of the $51.2 million in benefits it has promised. The DuPage Policy Journal reported the fund ranks 18th-worst funded among the 56 police and fire pension funds in DuPage County.

Where the money came from

The $1.4 million taxpayer contribution broke down as $1.3 million from the property tax levy and $18,428 listed as other municipal revenue. Active police officers contributed $291,897 from their paychecks.

The biggest revenue source was investments. The fund earned $5.3 million in investment income, nearly all of it through the statewide Illinois Police Officers' Pension Investment Fund, known as IPOPIF. That pool reported a 17.9% net return for calendar year 2025, according to an Illinois Municipal League report. Total income for the year reached $7 million.

Net assets stood at $34.9 million at year's end, up from $30.7 million a year earlier.

Where the money went

Service pensions accounted for $2.3 million, paid to 25 retirees. Two former officers received $83,762 in disability pensions. Five surviving spouses received $219,081.

The largest pension on the rolls is $148,329 a year, paid to Bradley J. Bloom, a police chief who retired in 2016. Administrative expenses totaled $74,820, or 2.7% of total spending. The annual statement reported zero auditing expense.

Who runs the fund

The pension board is led by Grant McElroy, a police officer. Board member Erik Bernholdt, the assistant secretary, draws a $107,867 annual pension from the fund he helps govern. Other members include Dennis Jones, CEO of Hinsdale Bank & Trust, and village Finance Director Carrie Dittman, who serves as ex officio treasurer.

The fund has 23 active members. The average salary is $124,848. The highest-paid active member is Brian M. King, the police chief, at $188,422.

The state mandate behind the gap

Illinois law requires all municipal police and fire pension funds to reach 90% funding by 2040, according to a Cook County Treasurer's Office report. The state mandated increased suburban contributions starting in 2011 to address years of underfunding.

The pension board's next scheduled meeting is Wednesday, Oct. 28, at 4 p.m. at the Hinsdale Police Department, 121 Symonds Drive. The agenda includes reviewing the actuarial valuation and tax levy request for the coming year. Public comment is on the agenda, with a three-minute limit per speaker.