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Sunday, November 24, 2024

Analysis: Mt Vernon pays $2.53 for every $1 pensioners contribute to Mount Vernon Police Pension Fund

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Taxpayers contributed 71.6 percent of the $916,377 the Mount Vernon Police Pension Fund brought in 2018, or $2.53 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 $656,264 to the fund, which saw a $293,699 decrease in revenue over 2017. Members contributed $259,049, or 28.3 percent, in 2018. Another $1,064 came from other unspecified sources.

Mount Vernon Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$764,596$656,824$872,624$935,025$656,264-14.2%
Pension members$246,084$238,312$259,417$274,341$259,0495.3%
Other Revenue$237$172$132$710$1,064348.9%
Total$1,010,917$895,308$1,132,173$1,210,076$916,377-9.4%

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