Quantcast

South Cook News

Friday, November 22, 2024

Analysis: Calumet City pays $4.49 for every $1 pensioners contribute to Calumet City Police Pension Fund

Adobestock 273050242

Taxpayers contributed 83.3 percent of the $4,045,939 the Calumet City Police Pension Fund brought in 2018, or $4.49 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, Calumet City contributed $3,369,579 to the fund, which saw a $297,115 increase in revenue over 2017. Members contributed $748,808, or 18.5 percent, in 2018.

Calumet City Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$2,809,570$3,248,932$3,243,000$2,960,612$3,369,57919.9%
Pension members$683,465$685,888$739,948$794,167$748,8089.6%
Other Revenue-$-1$0$0-$5,955-$72,448-7244700%
Total$3,493,034$3,934,820$3,982,948$3,748,824$4,045,93915.8%

MORE NEWS