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McHenry Times

Monday, May 6, 2024

Analysis: Cary pays $3.45 for every $1 pensioners contribute to Cary Police Pension Fund

Budget01

Taxpayers contributed 77.6 percent of the $1,012,644 the Cary Police Pension Fund brought in last year, or $3.45 for every $1 from pension members, according to a McHenry Times analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Cary contributed $785,340 to the fund, which saw a $160,158 increase in revenue over 2015. Members contributed $227,529, or 22.5 percent, in 2016.

Cary Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$442,092$450,806$508,418$585,340$785,34077.6%
Pension members$249,111$215,900$251,013$236,518$227,529-8.7%
Other Revenue$0-$5,690-$1,582$30,628-$225-
Total$691,203$661,016$757,849$852,486$1,012,64446.5%

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