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West Cook News

Thursday, May 2, 2024

Analysis: Maywood pays $11.62 for every $1 pensioners contribute to Maywood Police Pension Fund

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Taxpayers contributed 92.3 percent of the $4,887,855 the Maywood Police Pension Fund brought in 2018, or $11.62 for every $1 from pension members, according to a West Cook News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Maywood contributed $4,509,843 to the fund, which saw a $1,759,416 increase in revenue over 2017. Members contributed $388,076, or 7.9 percent, in 2018.

Maywood Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$1,844,507$1,991,396$2,010,952$2,721,125$4,509,843144.5%
Pension members$398,461$397,870$410,678$411,087$388,076-2.6%
Other Revenue$537$1,887$3,968-$3,773-$10,064-1974.1%
Total$2,243,505$2,391,153$2,425,598$3,128,439$4,887,855117.9%

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