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West Cook News

Saturday, November 2, 2024

Analysis: Oak Park pays $4.73 for every $1 pensioners contribute to Oak Park Police Pension Fund

Budget 10

Taxpayers contributed 81.4 percent of the $5,818,351 the Oak Park Police Pension Fund brought in last year, or $4.73 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, Oak Park contributed $4,735,676 to the fund, which saw a $672,011 increase in revenue over 2015. Members contributed $999,387, or 17.2 percent, in 2016. Another $83,288 came from other unspecified sources.

Oak Park Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$3,810,555$3,692,190$3,952,354$4,121,194$4,735,67624.3%
Pension members$992,649$941,107$982,182$1,019,683$999,3870.7%
Other Revenue-$27,704-$87,966-$3,767$5,463$83,288400.6%
Total$4,775,500$4,545,331$4,930,769$5,146,340$5,818,35121.8%

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