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South Cook News

Saturday, May 18, 2024

Analysis: Homewood pays $4.25 for every $1 pensioners contribute to Homewood Police Pension Fund

Budget 10

Taxpayers contributed 80.8 percent of the $1,976,729 the Homewood Police Pension Fund brought in 2018, or $4.25 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, Homewood contributed $1,598,078 to the fund, which saw a $128,749 increase in revenue over 2017. Members contributed $375,173, or 19 percent, in 2018. Another $3,478 came from other unspecified sources.

Homewood Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$827,907$1,030,272$1,075,111$1,480,797$1,598,07893%
Pension members$336,611$395,034$391,865$364,505$375,17311.5%
Other Revenue$485$2,182-$4,277$2,678$3,478617.1%
Total$1,165,003$1,427,488$1,462,699$1,847,980$1,976,72969.7%

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