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North Cook News

Friday, November 22, 2024

Analysis: Niles pays $6.72 for every $1 pensioners contribute to Niles Police Pension Fund

Budget 02

Taxpayers contributed 86.9 percent of the $4,230,139 the Niles Police Pension Fund brought in 2018, or $6.72 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 $3,674,756 to the fund, which saw a $477,333 increase in revenue over 2017. Members contributed $546,220, or 12.9 percent, in 2018. Another $9,163 came from other unspecified sources.

Niles Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$3,092,178$3,185,626$3,256,499$3,194,848$3,674,75618.8%
Pension members$510,871$508,891$593,810$552,883$546,2206.9%
Other Revenue$50-$29,209$1,956$5,075$9,16318226%
Total$3,603,099$3,665,308$3,852,265$3,752,806$4,230,13917.4%

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