Analysis: Hanover Park pays $4.87 for every $1 pensioners contribute to Hanover Park Firefighters Pension Fund

By North Cook News

Jul 22, 2020

Taxpayers contributed 82.8 percent of the $1,844,426 the Hanover Park Firefighters Pension Fund brought in 2018, or $4.87 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 $1,527,385 to the fund, which saw a $160,765 increase in revenue over 2017. Members contributed $313,564, or 17 percent, in 2018. Another $3,477 came from other unspecified sources.

Hanover Park Firefighters Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$714,492	$1,164,625	$1,220,758	$1,380,568	$1,527,385	113.8%
Pension members	$184,034	$293,937	$293,344	$297,440	$313,564	70.4%
Other Revenue	$13,133	$194	$8,054	$5,653	$3,477	-73.5%
Total	$911,659	$1,458,756	$1,522,156	$1,683,661	$1,844,426	102.3%