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North Cook News

Friday, November 22, 2024

Analysis: Skokie pays $3.15 for every $1 pensioners contribute to Skokie Police Pension Fund

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Taxpayers contributed 75.4 percent of the $4,734,704 the Skokie Police Pension Fund brought in 2018, or $3.15 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, Skokie contributed $3,571,063 to the fund, which saw a $171,353 increase in revenue over 2017. Members contributed $1,132,608, or 23.9 percent, in 2018. Another $31,033 came from other unspecified sources.

Skokie Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$1,544,269$2,165,945$2,208,070$3,424,615$3,571,063131.2%
Pension members$965,475$1,058,416$1,059,517$1,127,262$1,132,60817.3%
Other Revenue-$11,507-$17,954-$42,163$11,474$31,033369.7%
Total$2,498,237$3,206,407$3,225,424$4,563,351$4,734,70489.5%

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