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Friday, November 22, 2024

Analysis: Morton Grove pays $4.86 for every $1 pensioners contribute to Morton Grove Police Pension Fund

Budget 12

Taxpayers contributed 82.2 percent of the $2,541,953 the Morton Grove Police Pension Fund brought in last year, or $4.86 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, Morton Grove contributed $2,090,649 to the fund, which saw a $334,532 increase in revenue over 2015. Members contributed $429,569, or 16.9 percent, in 2016. Another $21,735 came from other unspecified sources.

Morton Grove Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$1,568,911$1,513,592$1,746,014$1,819,397$2,090,64933.3%
Pension members$374,358$417,589$399,590$412,809$429,56914.7%
Other Revenue$1$1$108,930-$24,785$21,7352173400%
Total$1,943,270$1,931,182$2,254,534$2,207,421$2,541,95330.8%

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