Analysis: Maywood pays $10.16 for every $1 pensioners contribute to Melrose Park Firefighters Pension Fund

By West Cook News

Aug 4, 2020

Taxpayers contributed 90.9 percent of the $5,630,585 the Melrose Park Firefighters Pension Fund brought in 2018, or $10.16 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, Maywood contributed $5,117,795 to the fund, which saw a $1,858,527 increase in revenue over 2017. Members contributed $503,646, or 8.9 percent, in 2018. Another $9,144 came from other unspecified sources.

Melrose Park Firefighters Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$2,310,781	$2,828,716	$3,081,599	$3,267,702	$5,117,795	121.5%
Pension members	$477,120	$496,897	$501,401	$507,441	$503,646	5.6%
Other Revenue	-$2,672	-$5,580	$2,842	-$3,085	$9,144	442.2%
Total	$2,785,229	$3,320,033	$3,585,842	$3,772,058	$5,630,585	102.2%