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North Cook News

Sunday, November 17, 2024

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

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Taxpayers contributed 82.9 percent of the $6,596,378 the Schaumburg Police Pension Fund brought in 2018, 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, Schaumburg contributed $5,471,525 to the fund, which saw a $236,445 increase in revenue over 2017. Members contributed $1,124,803, or 17.1 percent, in 2018. Another $50 came from other unspecified sources.

Schaumburg Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$4,158,651$4,248,143$4,541,539$5,179,593$5,471,52531.6%
Pension members$1,066,227$1,458,682$1,295,799$1,180,290$1,124,8035.5%
Other Revenue-$-1$0$0$50$505100%
Total$5,224,877$5,706,825$5,837,338$6,359,933$6,596,37826.2%

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