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Saturday, May 4, 2024

Analysis: Niles pays $5.30 for every $1 pensioners contribute to Niles Firefighters Pension Fund

Budget 03

Taxpayers contributed 84.1 percent of the $3,227,034 the Niles Firefighters Pension Fund brought in last year, or $5.30 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, Niles contributed $2,714,895 to the fund, which saw a $81,884 increase in revenue over 2015. Members contributed $511,802, or 15.9 percent, in 2016. Another $337 came from other unspecified sources.

Niles Firefighters Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$1,912,484$2,335,863$2,749,961$2,743,112$2,714,89542%
Pension members$414,250$418,106$431,995$426,728$511,80223.5%
Other Revenue$0$58$50-$24,690$337-
Total$2,326,734$2,754,027$3,182,006$3,145,150$3,227,03438.7%

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