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North Egypt News

Thursday, November 7, 2024

Analysis: Mount Vernon pays $5.24 for every $1 pensioners contribute to Mount Vernon Firefighters Pension Fund

Budget06

Taxpayers contributed 83.9 percent of the $1,157,016 the Mount Vernon Firefighters Pension Fund brought in 2018, or $5.24 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, Mount Vernon contributed $970,825 to the fund, which saw a $211,352 increase in revenue over 2017. Members contributed $185,102, or 16 percent, in 2018. Another $1,089 came from other unspecified sources.

Mount Vernon Firefighters Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$945,089$848,477$751,183$763,136$970,8252.7%
Pension members$167,099$173,590$185,080$181,858$185,10210.8%
Other Revenue$273$211$171$670$1,089298.9%
Total$1,112,461$1,022,278$936,434$945,664$1,157,0164%

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