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South Cook News

Friday, November 22, 2024

Analysis: Richton Park pays $4.91 for every $1 pensioners contribute to Richton Park Police Pension Fund

Budget 10

Taxpayers contributed 83.1 percent of the $1,405,783 the Richton Park Police Pension Fund brought in 2018, or $4.91 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, Richton Park contributed $1,167,734 to the fund, which saw a $659,824 increase in revenue over 2017. Members contributed $237,433, or 16.9 percent, in 2018. Another $616 came from other unspecified sources.

Richton Park Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$485,948$627,574$591,377$533,182$1,167,734140.3%
Pension members$203,042$208,291$207,031$217,214$237,43316.9%
Other Revenue$13,057-$2,044-$2,159-$4,437$616-95.3%
Total$702,047$833,821$796,249$745,959$1,405,783100.2%

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