Analysis: Hanover Park pays $4.16 for every $1 pensioners contribute to Hanover Park Firefighters Pension Fund

By Local Labs News Service

May 25, 2018

Taxpayers contributed 80.2 percent of the $1,522,156 the Hanover Park Firefighters Pension Fund brought in last year, or $4.16 for every $1 from pension members, according to a North Cook News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Hanover Park contributed $1,220,758 to the fund, which saw a $63,400 increase in revenue over 2015. Members contributed $293,344, or 19.3 percent, in 2016. Another $8,054 came from other unspecified sources.

Hanover Park Firefighters Pension Fund revenue over 5 years

	2012	2013	2014	2015	2016	Change 2012-2016
Municipality	$805,643	$815,297	$714,492	$1,164,625	$1,220,758	51.5%
Pension members	$262,035	$282,142	$184,034	$293,937	$293,344	11.9%
Other Revenue	$0	-$22,307	$13,133	$194	$8,054	-
Total	$1,067,678	$1,075,132	$911,659	$1,458,756	$1,522,156	42.6%