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South Cook News

Friday, November 22, 2024

Analysis: Posen pays $2.97 for every $1 pensioners contribute to Posen Police Pension Fund

Budget 08

Taxpayers contributed 74.8 percent of the $361,602 the Posen Police Pension Fund brought in 2018, or $2.97 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, Posen contributed $270,567 to the fund, which saw a $91,353 increase in revenue over 2017. Members contributed $91,036, or 25.2 percent, in 2018.

Posen Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$158,169$161,856$167,814$178,225$270,56771.1%
Pension members$70,472$75,441$94,498$92,024$91,03629.2%
Other Revenue$1$0$0$0-$-1-200%
Total$228,642$237,297$262,312$270,249$361,60258.2%

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