Analysis: Hanover Park pays $4.52 for every $1 pensioners contribute to Hanover Park Police Pension Fund

By North Cook News

Jul 23, 2020

Taxpayers contributed 81.7 percent of the $3,033,433 the Hanover Park Police Pension Fund brought in 2018, or $4.52 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, Hanover Park contributed $2,477,582 to the fund, which saw a $214,149 increase in revenue over 2017. Members contributed $547,137, or 18 percent, in 2018. Another $8,714 came from other unspecified sources.

Hanover Park Police Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$1,275,435	$2,078,956	$2,153,658	$2,300,432	$2,477,582	94.3%
Pension members	$323,746	$510,565	$520,286	$517,272	$547,137	69%
Other Revenue	-$8,245	$2,920	$8,577	$1,580	$8,714	205.7%
Total	$1,590,936	$2,592,441	$2,682,521	$2,819,284	$3,033,433	90.7%