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West Cook News

Friday, November 22, 2024

Analysis: Oak Park pays $4.87 for every $1 pensioners contribute to Oak Park Police Pension Fund

Budget 03

Taxpayers contributed 82.5 percent of the $6,939,532 the Oak Park Police Pension Fund brought in 2018, or $4.87 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 $5,724,005 to the fund, which saw a $680,378 increase in revenue over 2017. Members contributed $1,173,251, or 16.9 percent, in 2018. Another $42,276 came from other unspecified sources.

Oak Park Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$3,952,354$4,121,194$4,735,676$5,202,555$5,724,00544.8%
Pension members$982,182$1,019,683$999,387$1,054,747$1,173,25119.5%
Other Revenue-$3,767$5,463$83,288$1,852$42,2761222.3%
Total$4,930,769$5,146,340$5,818,351$6,259,154$6,939,53240.7%

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