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South Cook News

Friday, November 22, 2024

Analysis: Harvey pays $2.38 for every $1 pensioners contribute to Harvey Police Pension Fund

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Taxpayers contributed 70.4 percent of the $1,044,661 the Harvey Police Pension Fund brought in 2018, or $2.38 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, Harvey contributed $735,723 to the fund, which saw a $439,153 decrease in revenue over 2017. Members contributed $308,865, or 29.6 percent, in 2018. Another $73 came from other unspecified sources.

Harvey Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$34,671$109,312$110,219$1,105,605$735,7232022%
Pension members$340,982$361,391$324,861$376,040$308,865-9.4%
Other Revenue$1$0$6,838$2,169$737200%
Total$375,654$470,703$441,918$1,483,814$1,044,661178.1%

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