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West Cook News

Saturday, November 2, 2024

Analysis: Northlake pays $3.17 for every $1 pensioners contribute to Northlake Police Pension Fund

Budget 13

Taxpayers contributed 75.5 percent of the $1,465,170 the Northlake Police Pension Fund brought in last year, or $3.17 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, Northlake contributed $1,105,794 to the fund, which saw a $84,144 increase in revenue over 2015. Members contributed $348,317, or 23.8 percent, in 2016. Another $11,059 came from other unspecified sources.

Northlake Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$862,975$846,938$1,014,462$1,038,302$1,105,79428.1%
Pension members$310,640$314,824$423,905$340,957$348,31712.1%
Other Revenue$2,654-$12,862$134$1,767$11,059316.7%
Total$1,176,269$1,148,900$1,438,501$1,381,026$1,465,17024.6%

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