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West Cook News

Saturday, November 2, 2024

Analysis: Northlake pays $11.94 for every $1 pensioners contribute to Northlake Police Pension Fund

Budget 11

Taxpayers contributed 91.8 percent of the $4,917,712 the Northlake Police Pension Fund brought in 2018, or $11.94 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 $4,514,169 to the fund, which saw a $3,260,025 increase in revenue over 2017. Members contributed $377,882, or 7.7 percent, in 2018. Another $25,661 came from other unspecified sources.

Northlake Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$1,014,462$1,038,302$1,105,794$1,314,102$4,514,169345%
Pension members$423,905$340,957$348,317$345,041$377,882-10.9%
Other Revenue$134$1,767$11,059-$1,456$25,66119050%
Total$1,438,501$1,381,026$1,465,170$1,657,687$4,917,712241.9%

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