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South Cook News

Tuesday, November 5, 2024

Analysis: Calumet City pays $4.38 for every $1 pensioners contribute to Calumet City Police Pension Fund

Budget 12

Taxpayers contributed 81.4 percent of the $3,982,948 the Calumet City Police Pension Fund brought in last year, or $4.38 for every $1 from pension members, according to a South Cook News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Calumet City contributed $3,243,000 to the fund, which saw a $48,128 increase in revenue over 2015. Members contributed $739,948, or 18.6 percent, in 2016.

Calumet City Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$2,551,391$3,095,925$2,809,570$3,248,932$3,243,00027.1%
Pension members$630,556$669,059$683,465$685,888$739,94817.3%
Other Revenue-$4,271$11,717-$-1$0$0100%
Total$3,177,676$3,776,701$3,493,034$3,934,820$3,982,94825.3%

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