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South Cook News

Friday, November 22, 2024

Analysis: Palos Park pays $2.67 for every $1 pensioners contribute to Palos Park Police Pension Fund

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Taxpayers contributed 72.8 percent of the $274,671 the Palos Park Police Pension Fund brought in last year, or $2.67 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, Palos Park contributed $200,000 to the fund, which saw a $36,097 increase in revenue over 2015. Members contributed $74,670, or 27.2 percent, in 2016. Another $1 came from other unspecified sources.

Palos Park Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$167,000$185,000$165,000$175,000$200,00019.8%
Pension members$53,100$62,265$64,995$63,574$74,67040.6%
Other Revenue$0$0$0$0$1-
Total$220,100$247,265$229,995$238,574$274,67124.8%

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