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Friday, November 22, 2024

Analysis: Niles pays $7.12 for every $1 pensioners contribute to Niles Firefighters Pension Fund

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Taxpayers contributed 87.5 percent of the $4,032,224 the Niles Firefighters Pension Fund brought in 2018, or $7.12 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 $3,527,447 to the fund, which saw a $385,953 increase in revenue over 2017. Members contributed $494,807, or 12.3 percent, in 2018. Another $9,970 came from other unspecified sources.

Niles Firefighters Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$2,749,961$2,743,112$2,714,895$3,130,127$3,527,44728.3%
Pension members$431,995$426,728$511,802$513,381$494,80714.5%
Other Revenue$50-$24,690$337$2,763$9,97019840%
Total$3,182,006$3,145,150$3,227,034$3,646,271$4,032,22426.7%

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