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North Cook News

Friday, November 22, 2024

Analysis: Schaumburg pays $4.10 for every $1 pensioners contribute to Hoffman Estates Police Pension Fund

Budget04

Taxpayers contributed 79.9 percent of the $4,452,262 the Hoffman Estates Police Pension Fund brought in 2018, or $4.10 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 $3,557,124 to the fund, which saw a $177,348 increase in revenue over 2017. Members contributed $866,792, or 19.5 percent, in 2018. Another $28,346 came from other unspecified sources.

Hoffman Estates Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$2,698,444$2,670,802$3,228,471$3,407,918$3,557,12431.8%
Pension members$1,026,505$861,841$813,215$872,669$866,792-15.6%
Other Revenue-$-1$3,540-$12,507-$5,673$28,3462834700%
Total$3,724,948$3,536,183$4,029,179$4,274,914$4,452,26219.5%

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