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North Cook News

Sunday, May 5, 2024

Analysis: Schaumburg pays $3.97 for every $1 pensioners contribute to Hoffman Estates Police Pension Fund

Budget 08

Taxpayers contributed 80.1 percent of the $4,029,179 the Hoffman Estates Police Pension Fund brought in last year, or $3.97 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, Schaumburg contributed $3,228,471 to the fund, which saw a $492,996 increase in revenue over 2015. Members contributed $813,215, or 20.2 percent, in 2016.

Hoffman Estates Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$2,450,556$2,525,766$2,698,444$2,670,802$3,228,47131.7%
Pension members$1,194,862$1,010,124$1,026,505$861,841$813,215-31.9%
Other Revenue$0$0-$-1$3,540-$12,507-
Total$3,645,418$3,535,890$3,724,948$3,536,183$4,029,17910.5%

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