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Lisle police pension fund shows modest improvement to 73% funded; actuary warns of 2040 payment volatility
Summary
An actuarial valuation presented Oct. 20 showed Lisle’s police pension funded ratio improved to 73% and identified an unfunded actuarial accrued liability of roughly $18.3 million; Foster & Foster urged continued funding and offered amortization options to reduce future volatility.
An actuarial valuation presented to the Lisle Village Board on Oct. 20 showed the village’s police pension fund improved its funded ratio to 73 percent from 71.6 percent a year earlier, but still carries an unfunded actuarial accrued liability (UAAL) the actuary estimated at about $18.3 million.
Heidi Andorfer, an enrolled actuary with Foster & Foster Actuaries and Consultants, presented the May 1, 2025 valuation and said the improvement reflects positive investment returns and reductions in active membership. Andorfer noted the valuation uses a five‑year smoothing method for asset gains and losses to reduce year‑to‑year volatility. The report shows a total normal cost of $916,000 (the value of pension benefits being earned for one year…
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