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South Cook News

Saturday, November 23, 2024

Analysis: Homewood pays $2.74 for every $1 pensioners contribute to Homewood Police Pension Fund

Budget 09

Taxpayers contributed 73.5 percent of the $1,462,699 the Homewood Police Pension Fund brought in last year, or $2.74 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, Homewood contributed $1,075,111 to the fund, which saw a $35,211 increase in revenue over 2015. Members contributed $391,865, or 26.8 percent, in 2016.

Homewood Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$900,358$990,622$827,907$1,030,272$1,075,11119.4%
Pension members$308,398$297,394$336,611$395,034$391,86527.1%
Other Revenue$0-$24,637$485$2,182-$4,277-
Total$1,208,756$1,263,379$1,165,003$1,427,488$1,462,69921%

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