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West Cook News

Thursday, November 21, 2024

Analysis: McCook pays $5.35 for every $1 pensioners contribute to Mccook Police Pension Fund

Budget 08

Taxpayers contributed 84.3 percent of the $949,310 the Mccook Police Pension Fund brought in last year, or $5.35 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, McCook contributed $800,000 to the fund, which saw a $95,623 increase in revenue over 2015. Members contributed $149,310, or 15.7 percent, in 2016.

Mccook Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$340,000$420,000$635,000$700,000$800,000135.3%
Pension members$128,252$140,512$143,227$153,687$149,31016.4%
Other Revenue$0$0$0$0$0-
Total$468,252$560,512$778,227$853,687$949,310102.7%

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