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North Cook News

Friday, November 22, 2024

Analysis: Wheeling pays $3.36 for every $1 pensioners contribute to Wheeling Police Pension Fund

Budget 08

Taxpayers contributed 74.1 percent of the $2,594,885 the Wheeling Police Pension Fund brought in last year, or $3.36 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, Wheeling contributed $1,922,292 to the fund, which saw a $9,940 increase in revenue over 2015. Members contributed $571,932, or 22 percent, in 2016. Another $100,661 came from other unspecified sources.

Wheeling Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$1,378,043$1,403,098$1,692,954$2,060,385$1,922,29239.5%
Pension members$540,861$560,395$564,098$604,042$571,9325.7%
Other Revenue$1,820$50$58,395-$79,482$100,6615430.8%
Total$1,920,724$1,963,543$2,315,447$2,584,945$2,594,88535.1%

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