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South Cook News

Friday, November 22, 2024

Analysis: Steger pays $2.33 for every $1 pensioners contribute to Steger Police Pension Fund

Budget 01

Taxpayers contributed 70.8 percent of the $388,155 the Steger Police Pension Fund brought in last year, or $2.33 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, Steger contributed $274,640 to the fund, which saw a $47,949 increase in revenue over 2015. Members contributed $117,394, or 30.2 percent, in 2016.

Steger Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$207,814$217,514$176,060$257,765$274,64032.2%
Pension members$91,221$84,991$51,112$89,002$117,39428.7%
Other Revenue$0$1,668-$4,122-$6,561-$3,879-
Total$299,035$304,173$223,050$340,206$388,15529.8%

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