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South Cook News

Friday, November 22, 2024

Analysis: Steger pays $2.94 for every $1 pensioners contribute to Steger Police Pension Fund

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Taxpayers contributed 73.5 percent of the $445,695 the Steger Police Pension Fund brought in 2018, or $2.94 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 $327,613 to the fund, which saw a $81,296 increase in revenue over 2017. Members contributed $111,215, or 25 percent, in 2018. Another $6,867 came from other unspecified sources.

Steger Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$176,060$257,765$274,640$261,946$327,61386.1%
Pension members$51,112$89,002$117,394$104,006$111,215117.6%
Other Revenue-$4,122-$6,561-$3,879-$1,553$6,867266.6%
Total$223,050$340,206$388,155$364,399$445,69599.8%

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