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Tuesday, May 7, 2024

Analysis: Mt Prospect pays $4.30 for every $1 pensioners contribute to Mount Prospect Police Pension Fund

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Taxpayers contributed 81.1 percent of the $4,447,495 the Mount Prospect Police Pension Fund brought in 2018, or $4.30 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, Mt Prospect contributed $3,608,602 to the fund, which saw a $560,802 decrease in revenue over 2017. Members contributed $838,873, or 18.9 percent, in 2018. Another $20 came from other unspecified sources.

Mount Prospect Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$2,924,226$2,918,395$3,232,887$3,747,825$3,608,60223.4%
Pension members$851,363$795,827$815,684$1,260,472$838,873-1.5%
Other Revenue$0$0$0$0$20-
Total$3,775,589$3,714,222$4,048,571$5,008,297$4,447,49517.8%

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