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West Cook News

Sunday, May 19, 2024

Analysis: McCook pays $8.80 for every $1 pensioners contribute to Mccook Police Pension Fund

Budget 10

Taxpayers contributed 89.8 percent of the $1,670,414 the Mccook Police Pension Fund brought in 2018, or $8.80 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, McCook contributed $1,500,000 to the fund, which saw a $702,141 increase in revenue over 2017. Members contributed $170,414, or 10.2 percent, in 2018.

Mccook Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$635,000$700,000$800,000$800,000$1,500,000136.2%
Pension members$143,227$153,687$149,310$168,273$170,41419%
Other Revenue$0$0$0$0$0-
Total$778,227$853,687$949,310$968,273$1,670,414114.6%

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