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North Cook News

Friday, November 22, 2024

Analysis: Morton Grove pays $5.79 for every $1 pensioners contribute to Morton Grove Police Pension Fund

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Taxpayers contributed 85.1 percent of the $3,167,124 the Morton Grove Police Pension Fund brought in 2018, or $5.79 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, Morton Grove contributed $2,695,291 to the fund, which saw a $389,078 increase in revenue over 2017. Members contributed $465,264, or 14.7 percent, in 2018. Another $6,569 came from other unspecified sources.

Morton Grove Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$1,746,014$1,819,397$2,090,649$2,309,955$2,695,29154.4%
Pension members$399,590$412,809$429,569$446,618$465,26416.4%
Other Revenue$108,930-$24,785$21,735$21,473$6,569-94%
Total$2,254,534$2,207,421$2,541,953$2,778,046$3,167,12440.5%

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