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Sunday, December 22, 2024

Analysis: Schaumburg pays $3.95 for every $1 pensioners contribute to Schaumburg Firefighters Pension Fund

Budget 09

Taxpayers contributed 79.8 percent of the $5,501,977 the Schaumburg Firefighters Pension Fund brought in 2018, or $3.95 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 $4,391,479 to the fund, which saw a $242,463 increase in revenue over 2017. Members contributed $1,110,432, or 20.2 percent, in 2018. Another $66 came from other unspecified sources.

Schaumburg Firefighters Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$3,531,330$3,778,203$3,764,945$4,071,337$4,391,47924.4%
Pension members$992,111$1,093,023$1,072,444$1,110,369$1,110,43211.9%
Other Revenue$0$4,094$5,012$77,808$66-
Total$4,523,441$4,875,320$4,842,401$5,259,514$5,501,97721.6%

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