Analysis: Schaumburg pays $3.59 for every $1 pensioners contribute to Hoffman Estates Firefighters Pension Fund

By North Cook News

Jul 25, 2020

Taxpayers contributed 78.1 percent of the $4,188,674 the Hoffman Estates Firefighters Pension Fund brought in 2018, or $3.59 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 $3,270,126 to the fund, which saw a $193,044 increase in revenue over 2017. Members contributed $909,020, or 21.7 percent, in 2018. Another $9,528 came from other unspecified sources.

Hoffman Estates Firefighters Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$2,520,362	$2,597,016	$2,867,272	$3,121,335	$3,270,126	29.7%
Pension members	$851,857	$863,860	$973,790	$863,963	$909,020	6.7%
Other Revenue	$0	-$35,330	$10,628	$10,332	$9,528	-
Total	$3,372,219	$3,425,546	$3,851,690	$3,995,630	$4,188,674	24.2%