Analysis: Hanover Park pays $4.13 for every $1 pensioners contribute to Hanover Park Police Pension Fund

By Local Labs News Service

May 25, 2018

Taxpayers contributed 80.3 percent of the $2,682,521 the Hanover Park Police Pension Fund brought in last year, or $4.13 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 $2,153,658 to the fund, which saw a $90,080 increase in revenue over 2015. Members contributed $520,286, or 19.4 percent, in 2016. Another $8,577 came from other unspecified sources.

Hanover Park Police Pension Fund revenue over 5 years

	2012	2013	2014	2015	2016	Change 2012-2016
Municipality	$1,562,318	$1,657,706	$1,275,435	$2,078,956	$2,153,658	37.9%
Pension members	$495,959	$475,746	$323,746	$510,565	$520,286	4.9%
Other Revenue	$354	-$3,614	-$8,245	$2,920	$8,577	2322.9%
Total	$2,058,631	$2,129,838	$1,590,936	$2,592,441	$2,682,521	30.3%