Analysis: Algonquin pays $4.64 for every $1 pensioners contribute to Algonquin Police Pension Fund

By McHenry Times

Jul 3, 2020

Taxpayers contributed 82.1 percent of the $2,313,339 the Algonquin Police Pension Fund brought in 2018, or $4.64 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, Algonquin contributed $1,900,000 to the fund, which saw a $46,929 increase in revenue over 2017. Members contributed $409,143, or 17.7 percent, in 2018. Another $4,196 came from other unspecified sources.

Algonquin Police Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$1,025,000	$1,179,000	$1,240,000	$1,837,000	$1,900,000	85.4%
Pension members	$413,584	$415,618	$450,578	$423,716	$409,143	-1.1%
Other Revenue	-$7,305	$3,912	$7,302	$5,694	$4,196	157.4%
Total	$1,431,279	$1,598,530	$1,697,880	$2,266,410	$2,313,339	61.6%