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North Egypt News

Thursday, April 18, 2024

Analysis: Mt Vernon pays $3.36 for every $1 pensioners contribute to Mt Vernon Police Pension Fund

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Taxpayers contributed 77.1 percent of the $1,132,173 the Mt Vernon Police Pension Fund brought in last year, or $3.36 for every $1 from pension members, according to a North Egypt News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Mt Vernon contributed $872,624 to the fund, which saw a $236,865 increase in revenue over 2015. Members contributed $259,417, or 22.9 percent, in 2016. Another $132 came from other unspecified sources.

Mt Vernon Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$719,932$681,838$764,596$656,824$872,62421.2%
Pension members$229,799$236,479$246,084$238,312$259,41712.9%
Other Revenue$263$253$237$172$132-49.8%
Total$949,994$918,570$1,010,917$895,308$1,132,17319.2%

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